Business

Coronavirus Shock: Emi not Paid for Three Months Will Increase the Total Cost of Debt, Rbi, Bank, Finance, Loan

Business Desk, Amar Ujala, New Delhi., Updated Thu, 02 Apr 2020 03:58 AM IST

The Reserve Bank had urged banks not to charge EMI for three months to provide relief to loan payments to traders and citizens amid the ongoing crisis in the Corona virus epidemic. Many government and private sector banks have also implemented this system and started giving relief to their customers in recovering EMIs of loans from March 1 to May 31.

Despite this, there are many questions about the EMI payment waiver in the minds of its borrowers. Answers to some such questions are being issued by the Indian Banks Association on Wednesday. Learn more to answer some specific questions …

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