RBI allows fresh moratorium for some small borrowers amid COVID-19 crisis

FILE PHOTO: A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain/File Photo

MUMBAI (Reuters) – The Reserve Bank of India asked banks on Wednesday to let certain borrowers have more time to repay loans, among other support measures, amid a major second wave of COVID-19 infections in the country that has led to strict lockdowns in several states.

The moratorium will be available to individuals and small and medium enterprises that have not restructured their loans in 2020 and were classified as standard accounts till March 2021, RBI Governor Shaktikanta Das told reporters.

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