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RBI announces 3 month moratorium on loans and EMIs
March 28, 2020
RBI announces 3 month moratorium on loans and EMIs as the people are facing problems due to the complete lockdown. The moratorium will help the borrowers to face the current situation.
Home loans will become cheaper and the repo rate will be reduced. The three month prohibition is applicable to all term loans.
Borrowers won’t have to pay interest or EMI on the loan. According to RBI the loans are shifted by three months.
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