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The COVID-19 pandemic has broken the back of country’s economy. People are struggling to make their ends meet since the day lockdown has been lifted. Another problem they are facing is that huge interest has got accumulated over the loans they had taken for one or other thing.
The loan moratorium period has ended and Easy Monthly Installments (EMIs) have returned. After country went into the lockdown mode to trim the spread of COVID-19 earlier this year, the Reserve Bank of India on March 27 had allowed a moratorium for all banks for three months on payment of all installments due between March 1 and May 31. The RBI had further allowed the banks to extend the moratorium till August 31, b |