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RBI Allowed Banks Not To Take Monthly Installments Of Term Loans For 3 Months

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In the midst of a nationwide lockdown due to the coronavirus, on Friday, the RBI has allowed all banks not to make monthly installments for three months from term loan customers. Shaktikanta Das, postponing the payment of interest on working capital for three months will not be considered a lapse and will not affect the credit history of the borrower.

Newz Source: FinancialExpress

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