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Lending organizations may make use of their discretion to permit a moratorium of upto three months.

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Lending organizations may make use of their discretion to permit a moratorium of upto three months.

Will the moratorium be applicable in the event of brand new loans sanctioned after March 1, 2020 through the lockdown duration?

Theoretically, brand brand new loans sanctioned after March 1, 2020 aren’t covered underneath the pr release as it pointed out about loans outstanding as on March 1, 2020. Nevertheless, on the basis of the RBI circular it may be inferred that the loan company may at its discretion that is own extend advantage to such borrowers just in case the mortgage instalments of these brand brand brand new loans are falling due between March 1, 2020 and might 31, 2020.

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