In view of the pandemic of Covid-19, the RBI had, vide a Circular dated 27 th March 2020, permitted the lenders to allow a moratorium for three months of EMI (Equated Monthly Instalments), falling due between 1 st March 2020 and 31 st May 2020, for various categories of loans
Loan moratorium extendable for 2 years as per Covid impact, Centre tells SC
The Centre and RBI on Tuesday informed the Supreme Court that the moratorium period on repayment of loans amid the Covid-19 pandemic is “extendable” by two years. Solicitor General (SG) Tushar Mehta, appearing for the Centre and the Reserve Bank…
Recast of individual loans due to coronavirus: Who, how and when
The Reserve Bank of India (RBI) has issued guidelines for recast or resolution of loans taken by individual borrowers who are facing financial difficulties due to the Coronavirus pandemic. Banks have to formulate their own policies on recast of such…
Loan Against Shares (LAS)
Loans Against Shares/Securities is available in the form of an overdraft facility which is pledged against financial securities like shares, units and bonds. Loan Against Shares/Bonds/Mutual Funds is basically a loan wherein you pledge the securities you have invested in…
7 Personal Loan alternatives
Everyone needs to be flexible enough to take loans for their needs. However, the process of taking a loan is a burden, and with good interest on such loans. However, if you work with understanding, then you will get options…
Guaranteeing a Loan – Things to know
Becoming a guarantor for a loan is a huge responsibility. It means you are providing a guarantee to the lender that you shall repay the debt of the borrower if s/he is unable to do so if such a situation…