NBFC association seeks three-month moratorium on EMI payments

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published Published on Mar 24, 2020   modified Modified on Mar 25, 2020

-The Financial Express

NBFCs are at the forefront of financing many of the affected sectors, notably small road transport operators, taxi aggregators, infrastructure contractors, MSMEs, traders etc.

After banks wrote to the regulator asking for moratorium on corporate repayments, their non-banking counterparts have sought a three-month moratorium on equated monthly instalment (EMI) payments by their customers as much of the country goes into lockdown mode. Non-banking finance companies (NBFCs) are also asking for a one-time restructuring of standard accounts, which may get affected by the lockdowns and forbearance on asset recognition.

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The Financial Express, 24 March, 2020, https://www.financialexpress.com/industry/banking-finance/nbfc-association-seeks-three-month-moratorium-on-emi-payments/1907424/

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