The Reserve Bank of India (RBI) has extended the repayment moratorium of loan repayment for term loans by another three months, till August 31. All other conditions for the facility also remains unchanged, that is, the loan will not be classified by the lender non-performing and there will not be any impact on credit individual credit score.

“In view of the extension of the lockdown and continuing disruptions on account of COVID-19, it has been decided to permit lending institutions to extend the moratorium on term loan instalments by another three months, i.e., from June 1, 2020 to August 31, 2020. Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, may be shifted across the board by another three months,” RBI said.

The Reserve Bank of India (RBI) has extended the repayment moratorium of loan repayment for term loans by another three months, till August 31. All other conditions for the facility also remains unchanged, that is, the loan will not be classified by the lender non-performing and there will not be any impact on credit individual credit score.

“In view of the extension of the lockdown and continuing disruptions on account of COVID-19, it has been decided to permit lending institutions to extend the moratorium on term loan instalments by another three months, i.e., from June 1, 2020 to August 31, 2020. Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, may be shifted across the board by another three months,” RBI said.