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Decode the moratorium cost before opting for it

India covid-19 experts gatherings 2020
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The moratorium will provide short-term relief but will cost you dearly in the long term In line with several central banks across the world, the Reserve Bank of India (RBI) has come up with a slew of relief measures to ease the financial stress due to the covid-19 lockdown.

On 27 March, RBI reduced the repo rate by 75 basis points and announced a moratorium of three months on all term loan and credit card instalments due between 1 March and 31 May 2020. Click here to enlarge graphic The announcement gathered a lot of interest as, initially, many believed that loan EMIs and credit card dues had been waived for three months.

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