The Indian banking regulator is likely to announce additional liquidity measures to help businesses and corporations amid the Covid-19 pandemic.
A top level source in the finance ministry has indicated to Sputnik that the Reserve Bank of India (RBI) may extend relaxations provided on loan repayment amid several other measures.
"The moratorium on term loans may be extended for a period of three more months," the source told Sputnik on condition of anonymity.
The source said RBI has met stakeholders in this regard and an announcement may be made soon.
As part of monetary intervention in March in response to the Covid-19 pandemic, the RBI provided a moratorium on term loans for three months until 31 May. It is this deadline that may be extended by another three months providing relief to a large number of businesses and individuals who have to pay monthly instalments on long-term loans.
