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

By Reuters2 days ago

MUMBAI, May 5 (Reuters) - India's central bank 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, Reserve Bank of India Governor Shaktikanta Das told reporters.

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(Reporting by Swati Bhat and Abhirup Roy; Editing by Jacqueline Wong)

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