India: Banks and NBFCs Begin Tug of War on Extension of Loan Moratorium Scheme

Source: Moneycontrol

Most banks aren’t very forthcoming in extending the loan moratorium to non-banking finance companies (NBFCs) and microfinance institutions even after the Reserve Bank of India (RBI) extended the facility by another three months till 31 August.

Through informal communications, many banks have conveyed to NBFCs and micro lenders that they aren’t in favour of extending the moratorium, at least three NBFC industry officials told Moneycontrol.

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