Reserve Bank of India Governor Shaktikanta Das on Friday announced, the extension of the moratorium for three months was the biggest one and is expected to provide a significant boost to companies who are unable to pay pending dues due to the lockdown. The RBI went ahead with the move today and now the moratorium on terms loans will last till August 31.
"Three-month moratorium we allowed on term loans&working capitals we allowed certain relaxations. In view of the extension of the lockdown&continuing disruption on account of coronavirus, these measures are being further extended by another 3 months from June 1 to Aug 31," he said.
RBI governor announces some benefits for exporters. Term Loan moratorium extended by three more months till August 31. RBI governor also announced several measures to help banks in the wake of the crisis. He then went on to say that the RBI, like other central banks in the country, will ensure that the country's economy is back on its feet.