Retailers seek RBI intervention as banks unwilling to extend debt moratorium to borrowers
The country is under a three-week lockdown starting March 25 and the number of cases infected with the virus is rising steadily. The RBI had announced a moratorium under which borrowers of all the term loans were given a breather from repayments for three months.
RBI can restructure struggling banks without moratorium
The ordinance approved on Wednesday also empowers the RBI to bring cooperative banks under its supervisory powers.
Borrowers opting out of loan moratorium with unlocking of economy, say bankers
According to Punjab National Bank Managing Director S S Mallik...
Moratorium: Banks oppose waiver of loan interest
The RBI had announced the moratorium, which ends August 31, to protect borrowers hit by the Covid-19 crisis. The lenders opposed any interest waiver and defended the right to charge interest on interest, saying any waiver would set a bad precedent.
Companies with loan recast seek moratorium from banks
RBI’s Covid-19 regulatory package was announced to mitigate the debt-servicing burden of stressed borrowers. But the moratorium has also raised default risks, making lenders more risk averse.
Takers for loan moratorium decline to less than 30%
Lenders told ET that they were more stringent in extending the second phase of the moratorium.
Only 25 percent of NBFCs sought moratorium, says CARE study
More than four-fifths of the housing finance companies (HFCs) did not approach lenders for this relief. But more than 70% MFIs — and about a quarter of the realty-focused wholesale and retail NBFCs — sought relief, the research showed.
SBI vs HDFC Bank vs ICICI Bank: Extended loan EMI moratorium terms and conditions
Do keep in mind that the moratorium is not a waiver of your EMIs for six months, instead it is a grace period, to help you tide over financial exigencies caused due to the lockdown.
No relief for Mudra Shishu loan borrowers during moratorium
The subvention will begin from June for the next one year for borrowers that had opted out of the moratorium offer. RBI extended the moratorium benefit till August 31 for borrowers under stress. The ministry also said that banks, NBFC and MFI that channel Mudra loans to the bottom-of-the-pyramid borrowers cannot raise interest rates on Shishu loans till the subvention scheme remains operational.
Low interest rate regime critical for survival of banks: KV Kamath
KV Kamath has pitched for a low interest regime, saying it is critical for survival of banks at this juncture.
Opted for moratorium on home loan EMIs? Here's what will happen to your tax-savings
Current income tax laws allow tax benefits on both principal repayment and interest paid on home loans.
NBFC-MFIs to begin fresh lending only after expiry of moratorium
The total estimated collective disbursements by NBFC-MFIs up to September could merely be Rs 2,884 crore, Microfinance Institutions Network (MFIN) said in a report. This is significantly less than the average disbursements of around Rs 6,600 crore per month seen in FY20.
Moratorium is a good tool only for the short term: Aberdeen Standard Investment
‘Like Kotak and HDFC Bank in the private banks space’
Uday Kotak against waiver of interest during moratorium period
People asking for moratorium on interest also need to keep in mind the interest of depositors, he said, adding "it cannot be an unequal game...do not think about saying, moratorium on what I borrow, but I must get full interest on deposits.
BoB says 65% customers opted for moratorium
BoB's numbers are higher than some peer banks like State Bank of India (SBI) which had said that only 20% of its borrowers had opted for the moratorium. BoB estimates that it can offer about Rs12,000 crore of loans to micro small and medium enterprises under the Rs 3 lakh crore goverment guarantee scheme which is 20% of its Rs 60,000 crore exposure to this sector.
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