Consolation news for borrowers. Benefit till September 28 for all loans. Know more information
The good news is that. In fact, in today’s world of automation can be a daunting task. The moratorium on borrowers’ repayments has been extended to September 28. The whole world is in financial trouble. As a result, many people in our country are unemployed and financially bankrupt.
The first moratorium was announced in March during the lockdown. It was then announced to be extended for 3 months. It was later extended for another 3 months in June. It was then announced until August 31st. Banks classify loans as non-performing loans, which are not usually repaid in 3 monthly installments. But the moratorium has been in place for the past six months. But he had decided to repay the loan from September 1.
People have been worried about what to do since September in this situation where they are suffering so much. But now the Supreme Court has said that no loan has to be repaid till September 28. Everyone has taken a loan for various purposes. The Supreme Court has directed banks not to create any problems if you do not repay it now, whether it is for vehicles, housing loans or home appliances.
The check will never be returned until September 28th. On return it will not affect the civil score or take any action against you. The Central Government and the RBI have been given till September 28 to submit the final report. The Supreme Court has also directed the Central Government to inform whether interest should be charged during the moratorium period. The central government will never give up on borrowers.
Under a Disaster Management Act, the Central Government has the power to make decisions. Therefore, the Supreme Court had said that the Center should understand the plight of the common people. Therefore, the Central Government may extend the moratorium period after the 28th.
So we can expect good news after September 28th. It is a matter of concern that people will not be able to repay bank loans when it is difficult to live even in this day and age. There will be many who do not know this news. But try to convey this good news to them too.