No Decision Has Been Made On Extension of Moratorium Period

New Delhi : The government is still holding discussions on whether the deadline, which would end on August 31, for loan moratorium could be extended, a senior government official told Moneycontrol.

There has not been any decision yet on it (extension of date). But, we are holding regular discussions with the RBI (Reserve Bank of India) and other stakeholders, whether such an extension is possible. Maybe till the end of this year,” the official said.

The RBI extended the loan moratorium scheme on May 22 for another three months till August-end, taking into account the extended lockdown. Initially, the lockdown was announced in March for three months. The idea was to help stressed borrowers, who have suffered income loss, due to the COVID-19 outbreak and subsequent lockdown.