CORONA VIRUS IN INDIA I RBI Official Updates to all the Bank A/C Holders for EMIS I RBI Allows 3 month moratorium In Emis

CORONA VIRUS IN INDIA  RBI Official Updates to all the Bank A/C Holders for EMIS I RBI Allows 3 month moratorium In EMIs.


RESERVE BANK OF INDIA: RBI GOVERNOR. Mr shaktikanta das on friday has clear that by seeing present situation of the country Due to COVID-19 spread throughout the world .and affected many of the indian states has led #21 days lockdown in country.Everything in the entire country has been lockdown :school, colleges  malls and industries too.

RBI  Governor said that in order to satisfy the A/C holders of all the bank .Including merchant account  We are giving the service that they can pay their EMIs For the coming Next 3 months . June afterwards.We are currently withheld the EMIs of those person who has taken loans in Monthly EMIs.By Doing this the people can feel free from the distractions of the Loan Payments.

  After the Announcement by the RBI Governor.  All the banks can put the notice to their customers that need not to worry for payment of  their monthly Loan EMIs. Banks are responsible for giving 3 more months to pay their EMIs in next 3 months after. That is From june thay may start paying their Emis to their respective banks.


Note ; they mentioned also that they wont get any effect to their credit score :
Below are the important frequently asked question related to the payment of EMIs….

Question 1.  My date of paying Coming month  EMIs is soon. Will the Bank will deduct money for My EMIs payment?

Answer: As RBI Mentioned in their statement that they have given Order to all the bank to give a 3 month relief for paying their Monthly EMIs.though also its not clearly confirmed that the all the customers of the bank will satisfy for this relief. But Bank will soon release the cateogory of the customers who will get this benefit . and who cannot avail this facility. As SBI Chief Said that all the cateogory of loan payment of All the customers has been given 3 month relief from paying their Monthly EMIs.

Question 2. Will it affects to my Credit score if I am not Paying My EMIs monthly?
Answer: No , it wont get any affected by doing this.

Question 3? Which are the banks that they are giving Relief from their paying Monthly EMIs?

Answer, As Clearly Mentioned by RBI, That all the banks of the country Including local district banks.Corporation Bank and all the rural and urban banks which are undertaken by The government of India.

Question 4? Is this Amount of 3  months EMIs  have been reduced in my Terms loans forever. And I should not pay again ?
Answer : As per said by RBI Governor that this isn’t money that will get reduced in Your Total EMIs Outstanding . but it is only that you will get a 3 months break from your Bank for paying your EMIs monthly.After this three months Your EMIs plan will continue with your outstanding balance including INTREST.

Question 5?   Will I have to pay all the outstanding EMIs Balance after this Three month in June Itself
Answer: <No > As per RBI ,Though not stated clearly, but they Will push notification for all the benificaries of this facility Got Availed. We have to wait for clear info.

Question.6? Will these three months EMIs  Not paying Relief includes Interest and amount too?
Answer. Yes. As clearly mentioned this benefit of not paying three months EMIs will also includes your intrest too.This benefit of not paying EMIs will start from 1. March 2020 upto April and may 2020.

Question 7. Will these Benefit is avail for those person who has taken loan for different Purpose?
Answer.Yes. as per Order of RBI It includes loan types such as agricultural loan .*Home loan. Personal Loan, Education Loan , Etc All the types of loan that the person has taken will avail this facility.

Question 8.Will this facility is also Available for those Customer who has purchased An item From Credit Card ?
Answer. As Per RBI Not Spoken About the credit card EMIs  holder But it Also includes that the EMIs in credit card is same as loan Amount . they will update us soon.







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