#loan moratorium extension in india

[dlsnewsindia]

Finance Ministry and Rbi in talks to extend loan Moratorium period but banks are not in favor of extension - government and Rbi may increase loan waiver period, bank protests

Finance Ministry and Rbi in talks to extend loan Moratorium period but banks are not in favor of extension – government and Rbi may increase loan waiver period, bank protests

[ad_1]

Business Desk, Amar Ujala, New Delhi Updated Sat, 01 Aug 2020 11:54 AM IST

Finance Minister Nirmala Sitharaman – Photo: ANI

Read Amar Ujala e-paper anywhere anytime.

* Yearly subscription for just ₹ 249 + Free Coupon worth ₹ 200

Hear the news

Hear the news

Finance Minister Nirmala Sitharaman said that the ministry is in talks with the Reserve Bank of India (RBI) to…

[authenticnewshindi]

सरकार व RBI बढ़ा सकते हैं लोन चुकाने में छूट की अवधि, बैंक कर रहे विरोध

सरकार व RBI बढ़ा सकते हैं लोन चुकाने में छूट की अवधि, बैंक कर रहे विरोध

[ad_1]

बिजनेस डेस्क, अमर उजाला, नई दिल्ली Updated Sat, 01 Aug 2020 11:54 AM IST

वित्त मंत्री निर्मला सीतारमण – फोटो : ANI

पढ़ें अमर उजाला ई-पेपर कहीं भी, कभी भी।

*Yearly subscription for just ₹249 + Free Coupon worth ₹200

ख़बर सुनें

ख़बर सुनें

वित्त मंत्री निर्मला सीतारमण ने कहा कि मंत्रालय भारतीय रिजर्व बैंक (आरबीआई) के साथ लोन मोरेटोरियम को बढ़ाने के लिए बातचीत कर रहा है।…

[newsboy360]

On Loan Moratorium And Interest Payments, Centre’s October 1 Deadline In March, the RBI had granted a 3-month moratorium on loans due to coronavirus (Representational) New Delhi: …

[rnewsworld]

दो साल तक बढ़ सकता है लोन पर मोरेटोरियम, सरकार ने सुप्रीम कोर्ट में दिया हलफनामा

दो साल तक बढ़ सकता है लोन पर मोरेटोरियम, सरकार ने सुप्रीम कोर्ट में दिया हलफनामा

न्यूज डेस्क, अमर उजाला, नई दिल्ली Updated Tue, 01 Sep 2020 12:02 PM IST

पढ़ें अमर उजाला ई-पेपर कहीं भी, कभी भी।

*Yearly subscription for just ₹249 + Free Coupon worth ₹200

ख़बर सुनें

ख़बर सुनें

सुप्रीम कोर्ट ने कोविड-19 के कारण मोरेटोरियम अवधि के दौरान ब्याज पर छूट देने की दिशा में निर्देश देने वाली याचिका पर सुनवाई की। केंद्र की ओर से पेश सॉलिसिटर जनरल तुषार मेहता ने कोर्ट में…

[weelectronicstudentreviewstuff]

Loan Moratorium Expires On August 31, RBI Unlikely To Extend Relief The six-month period of loan moratorium expires on August 31 With the moratorium on repayment of bank loans set to expire on Monday, the Reserve Bank of India (RBI) is unlikely to give an extension to the scheme, news agency PTI reported, quoting sources.

[newzzhub]

Loan Moratorium Expires Today, RBI Unlikely To Extend Relief: Report The six-month period of loan moratorium expires on August 31 With the moratorium on repayment of bank loans set to expire on Monday, the Reserve Bank of India (RBI) is unlikely to give an extension to the scheme, news agency PTI reported, quoting sources.

[newsupdated]

Loan Moratorium Expires Today, RBI Unlikely To Extend Relief: Report The six-month period of loan moratorium expires on August 31 With the moratorium on repayment of bank loans set to expire on Monday, the Reserve Bank of India (RBI) is unlikely to give an extension to the scheme, news agency PTI reported, quoting sources.

[hospitality-world-news]

Industry leaders write to PM Modi and RBI Governor seeking extension of moratorium – ET HospitalityWorld The hospitality industry is going through the toughest time as there's no revenue during the lockdown, and even after unlocking, the situation hasn’t brightened a lot.

[vilaspatelvlogs]

खत्म हो रही लोन मोरेटोरियम की सुविधा, तो RBI ने किया रिस्ट्रक्चरिंग स्कीम का एलान

खत्म हो रही लोन मोरेटोरियम की सुविधा, तो RBI ने किया रिस्ट्रक्चरिंग स्कीम का एलान

[ad_1]

लोन रिस्ट्रक्चरिंग स्कीम – फोटो : अमर उजाला–रोहित झा

पढ़ें अमर उजाला ई-पेपर कहीं भी, कभी भी।

*Yearly subscription for just ₹249 + Free Coupon worth ₹200

ख़बर सुनें

ख़बर सुनें

भारतीय रिजर्व बैंक (आरबीआई) ने कोरोना वायरस महामारी के समय में ग्राहकों की सुविधाओं को ध्यान में रखते हुए उन��हें लोन मोरेटोरियम की सुविधा दी, जिसकी अवधि 31 अगस्त के बाद समाप्त हो जाएगी। अब ग्राहक इस…

[newshindiplus]

RBI गवर्नर शक्तिकांत दास- 12 बजे करेंगे ब्याज दरों पर ऐलान, आगे बढ़ सकती है लोन EMI पर मिल रही छूट

RBI गवर्नर शक्तिकांत दास- 12 बजे करेंगे ब्याज दरों पर ऐलान, आगे बढ़ सकती है लोन EMI पर मिल रही छूट

[ad_1]

आरबीआई गवर्नर शक्तिकांत दास (RBI Governor Shaktikanta Das) RBI Monetary Policy Decision Today-आरबीआई गवर्नर शक्तिकांत दास (RBI Governor Shaktikanta Das) आज ठीक 12 बजे ब्याज दरों पर किए गए फैसलों का ऐलान करेंगे. माना जा रहा है कि आम आदमी के लिए…

[corpaidvishal]

Collateral Free Automatic Loans worth rs 3 Lakh crore for MSME’s Sector

Ministry of Micro, Small & Medium Enterprises (M/o MSME) envision a vibrant MSME sector by promoting growth and development of the MSME Sector. Rs 15,700 crore to be provided to MSME sector – more than double BE for 2020-21.

List of Announcements made by Government of India for MSME’s Sector

1.       Collateral Free automatic loans worth Rs. 3 lakh Crore for MSME’s with

·         100% Credit Guarantee

·         12 month moratorium on payment of principal

·         No guarantee Fee & Collaterals

·         Tenor – 4 years

·         To Benefit 45 Lakh MSME Units.

2.       Government of India to Support stressed MSME’s with infusion of Rs. 20,000 crore equity support through subordinate debt.

·         Stressed MSME’s or MSME with NPA loans will be eligible

·         More than 2 lakh MSME’s likely to be benefitted.

·         Government to refuse Rs. 4000 Crore in Credit Guarantee Trust Fund For MSE’s

 3.       Fund of Funds Created to infuse equity                 worth Rs. 50,000 crore in the MSME sector

·         A RSs. 10,000 crore Corpus fund created

·         To help potential MSME’s in Expansion

4.       Growth Beyond leaps and bounds with new defined MSME’s – Distinction between manufacturing and services MSE’s removed. Investment limit revised upwardly. Criterion of turnover added.

Breaking the Shackles of old definition, MSME’s to grow leaps and bounds

·         Micro Enterprises – investment upto Rs. 1 crore and Turnover upto Rs. 5 Crore

·         Small Enterprises – Investment upto Rs. 10 Crore and turnover upto rs. 50 crore

·         Medium Enterprises – investment upto Rs. 20 Crore and turnover upto rs. 100 crore

5.       In a major initiative, Global tenders to be disallowed for government tenders upto Rs 200 crore to enable MSME’s to participate in the government procurement process.

 6.       Government of India and CPSE’s to clear all receivables of MSME’s in the next 45 days.

7.       E- Market linkages for MSME’s across the board to provide marketing opportunities

Click here for More Updates at MSME Registration Online Consulting Services

More Announcements related to MSME’s Sectors are

·         Rs.2,500 crores EPF support for businesses and workers for three more months August, 2020. This will benefit more than 3.5 lakh units and 72 lakh employees.

·         Special Liquidity Scheme for Non-Banking Financial Companies, Micro-Finance Institutions, Housing Finance Companies worth Rs.30,000 crore.

·         To cater to liquidity needs of MSMEs, Partial Credit Guarantee Scheme 2.0 for NBFCs worth Rs.45000 crore introduced. Government of India to bear the first 20% of loss.

·         Major Relief to Contractors

All Central Agencies like Railways, Ministry of Road Transport & Highways, Central Public Works Dept, etc. to grant extensions of contracts up to 6 months without costs to contractor.

·         Expediting refunds to partnerships, proprietorship & LLPs will help the MSMEs immensely.

Source: Ministry of MSME

[shivangisaxena04]

Why India needs to put cash in the hands of the poor

The Rs 21.7 lakh cr package declared so far consists in the extension of credit, or the moratorium of payments. And while this helps to building availability of immediate credit, it is estimated that less than 5% of the package may be in the form of real disbursements.

Also the govt. of India has refused or voided direct disbursement of cash to wage labourers, daily traders who are presently out of jobs and have no resources.

In the previous term, the govt. had taken a great initiative of Jan Dhan Yojna, where it encouraged rural population to open their bank accounts and which were also to be inked with their Adhar cards. 

It’s time to put that Yojna to some benefit. The govt should step forward and direct transfer cash to these accounts. This would not only help the poor survive these critical situation but also create demand. The poor does not just seek food grains, but mostly cash or money.

 The point here is that an economy is truly healthy only when the maximum number of citizens are constantly exchanging legal tender to purchase goods and services. To do this, they need to have mound of money today, and the security of knowing that they will have access to more tomorrow.

The stimulus package introduced by the govt. gives easement on loans for MSME and basically the supply side of the market. The govt must focus  on the millions of migrants, penniless and hungry, who are either trudging back to their village homes, or waiting, in desperation, for trains to take them there now.

May 31st, 2020

[myashpal]

Counting the zeros of 2,00,00,00,00,00,000 in 2020.

The ‘fiscal stimulus’ package of nearly ₹20 lakh crore that was announced on May 12th, by our honourable Prime Minister, is not actually as relieving as it sounds. There will be nothing wrong if I say that the package is transcendent for the ‘Headline Management’ rather than crisis management and it was all about marginalising the screen time of migrant labour distress. It should be kept in mind that the Union budget for year 2020-21 was ₹30.4 lakh crores (to be very precise ₹30,42,230 crores), which is approx. 15% of the GDP of the country. Total GDP of India is ₹190.54 lakh crores (US$ 3.2 trillion)

Last year central government announced a package of ₹100 lakh crores for infrastructure development projects. Now the question arises that if the last years budget of the government was ₹30.4 lakh crore, then how can it announce a package of worth ₹100 lakh crores? Well, “la risposta si trova qui!” (the answer is here!)

In that package the total budget expenditure of the government (in simple term — engagement of govt. money) was only about ₹7,000-8,000 crores and the remaining amount was to be financed to infrastructure companies by banks as loans. The banks didn’t financed the infrastructure projects because they found that many of the infrastructure companies were already running in huge losses and were turning into NPA’s. As a result, that package halted there only.

Structure of the so-called 20 lakh crores package (as per announced by govt.) —

March 26th, 2020 - ₹1.92 lakh crores

May 06th, 2020 - ₹8.1 lakh crores (by RBI)

May 13th, 2020 - ₹5.94 lakh crores

May 14th, 2020 - ₹3.10 lakh crores

May 15th, 2020 - ₹1.5 lakh crores

May 16th, 2020 - ₹81,000 crores

May 17th, 2020 - ₹40,000 crores

The fact here to be remembered is that - ‘currently we need to restart our economy, not to stimulate it.’ Stimulation is provided when a running economy is going through a slowdown. Presently, we are at 0% growth where all the business enterprises were fully shut since more than 50 days. A slowdown could be stimulated, but not breakdown.

There are three kinds of packages —

Fiscal package - expenditures from the government's earnings for public in form of tax subsidies, direct transfers and injecting funds directly in the economy.

Financial package - government asks banks to provide finance to citizens for boosting economy by liberalising rules for loans or sometimes acting as a guarantor to banks.

Monetary package - RBI decides to infuse liquidity in the economy by reducing repo rate**, so banks can provide loans to public at lower interest rates.

A ‘financial package’ can’t be termed as ‘stimulus’ package because the process of granting a loan entirely depends upon the bank, it is a transaction between a bank and the applicant. Government here, can only be a facilitator among both. Whether bank will sanction/provide a loan or not, depends fully upon the credibility of that applicant.

On May 13th, finance minister Nirmala Sitharaman announced that ₹3.7 lakh crores from the total package of ₹20 lakh crores, would be provided to MSME (Micro, Small and Medium Enterprise) sector as debt finance (loans), guaranteed by the central government. She also added that a 12 month moratorium period will be provided to Small Enterprises.

It must be committed to the memory that — ‘moratorium’ will only be for the principal amount but the interest calculated by banks would be on a ‘compounding’ basis. Compounded calculations of interest for 12 months for a Small Enterprise is not an easy play, where interest rates would be decided by the banks. This package was entirely dependent on the sole discretion of banks, whether to provide loans or not and also upon the enterprise’s willingness to take up a loan. The entire focus of this package is only upon — loan, loan, cheap loan, MSME loan and loan. People are being pushed to a system which is entirely based upon the ‘debt/credit finance’.

Post 9 to 12 months scenario due to this package :

After the period of about one year, we might experience that a majority of depositors will be seen, whose deposits will get eroded in terms of interest. They will not even be getting as much returns as their cost of living or inflation would have been. SBI had reduced its interest rates on the fixed deposits thrice, in the last 4 months.

Indian banks who were already trapped in a web of bad debts will be groaning, because of distribution of these new loans. It is also possible that we may experience a completely new explosive form of debt crisis.

There is also a possibility of bank loan scams making a comeback in the Indian economy on an extensive scale because of political interference for compelling banks to provide loans to the dear ones or relatives of the politicians.

Till February 2020, Indian banks were already burdened with NPA’s of ₹9.9 lakh crores, and government was pressurising them for not sanctioning any more loans because of the growing numbers of NPA’s & frauds. Government was telling banks to clear their balance sheets by various means — bankruptcy code, writing off loans, putting provision funds for bad debts, creating bad banks etc. India’s major pre COVID economic highlights were only about ‘troubles of the banking sector’.

Just with the outbreak of COVID-19, the very first steps took by the RBI were — releasing liquidity of ₹4 lakh crores to banks to provide economic stimulus to various sectors as loans and, reducing the repo rate from 5.15% to 4.40% (cutting it by 75bps), it was the lowest in the history of the Reserve Bank of India. As a result, all the retail loans also hit the record low (in rates and demand), ever since 2009. Finance Minister admitted that banks are sanctioning loans but consumers are not willing to take them. Even one-third amount of the funds that RBI released for various sectors (Mutual Funds, NBFC’s, DISCOMs) were not used by the banks.

On May 4th, 2020, banks returned ₹8.54 lakh crores to the RBI via ‘reverse repo’ window. So, the RBI slashed reverse repo rate window because of this. On this event, FM Nirmala Sitharaman told that banks are not distributing loans and are keeping funds with the RBI. The banks were provisioning funds for future balancing for NPA’s and moratoriums, amid this, the RBI announced that it will not provide any dividends for the current year. Banks were calculating the losses that they had to bear in the coming year due to bad loans & NPA’s.

Suddenly, out of the way, May 12th, 2020 on 20:20hrs, a relief package of ₹20 lakh crores descended, and was announced with idea of “AatmaNirbhar Bharat” (Self-reliant India) by the PM Narendra Modi and was quoted as — “20 lakh crore in 2020”.

The basic default rate in India is close to 15%. So, if we calculate the maximum risk on the government for MSME sector package of ₹3.70 lakh crores, it will be around ₹15,000 - ₹20,000 crores. That also on a condition — ‘if’ these loans will get disbursed and get default, then only these would be repaid from the government treasury. The intent of government was not clear on emphasis to provide new loans to the bad MSME’s which are already in default and running in losses.

The contradiction and ridiculousness —

Just before a month from now (in April 2020), the government was directing banks to pause recoveries/provide moratoriums for a period of 3 months to the people and industries because they hadn’t performed any business operations as everything was completely closed due to the nationwide lockdown. And now (May 2020), the government is telling for those same industries, to take up a new loan to restart their business operations. It is quite obvious in nature that any enterprise will primarily focus to repay the existing/ongoing loans rather than taking up a new one.

The total amount of loans distributed in the Indian Banking System (IBS) is nearly ₹93.8 lakh crores, in this, ₹56 lakh crores is distributed to large industries, ₹11.8 lakh crores to agriculture industry and ₹26 lakh crores are personal/other retail loans including loans to small industries. The small industries for whom the package of ₹3.7 lakh crores was announced, are the industries that are already in debts of ₹10 lakh crores.

Till February 2020, these small industries were requesting the governments for restructuring of their loans and stop recoveries as they were going through a very bad phase due to the slowdown, since 2 years. Now the question is, Why the enterprises who were unable to repay their existing loans and demanding for restructuring of their loans in normal days, would take a new loan in a juncture when there is total ‘uncertainty’ for demands and supplies? Many industrial reports had caveated that a large number of defaults in retail loans will take place in the coming 6-9 months because of the unemployment occurred and occurring during & after the lockdown. The major problem of the Indian economy before the COVID-19 was only the debt-crisis — the debts in company’s accounts, debts in bank’s accounts, debts in state and central government’s accounts, and when the people were already struggling hard to get rid of the debt cycle; they suddenly are being sent back to a system where they should be going to take up another new debt, due to COVID-19 crisis. At last, I would conclude myself with the famous lines of the scholar ‘Nassim Nicholas Taleb’, — “The solution for a debt-crisis in any economy, cannot be a new debt”.

- M. YASHPAL

[weelectronicstudentreviewstuff]

SC To Hear Fresh Plea On Extension Of Loan Moratorium Till Year-End The plea has been tagged with others on the same issue The Supreme Court (SC) on Friday said that it will hear a fresh plea seeking extension extension of the Reserve Bank of India's (RBI) moratorium scheme till December this year.

[credgenics]

Are your Loan Collection Mechanisms Future-Ready?

As the world tries to return to a semblance of normalcy in a post-pandemic world, the lending industry is seeing some respite. A recent Moody’s report expects growth in bank loans to accelerate to 12-13% in FY 23 aided by increasing corporate earnings and easing of funding constraints for NBFCs. An Icra report predicts an 8.9-10.2 per cent growth for bank credit in FY23.

Yet, the impact of the pandemic will continue to be felt when it comes to loan collections. The Reserve Bank of India’s (RBI’s) Financial Stability Report (FSR) from December 2021 points to headwinds in the retail credit growth model, rising delinquencies, and a dip in originations in new-to-credit segments. The report speculates that bad loans of commercial banks in India could rise to between 8.1 and 9.5 per cent by September 2022.

Also, the RBI’s two-year moratorium period offered to businesses during the pandemic will end between March and September 2022. While most banks have voluntarily made provisions to deal with the slippage of restructured loans, higher than expected slippages could be a source of worry.  A report by the India Ratings and Research predicted that the stressed asset ratio in the MSME segment could rise to 16.7% in FY23 from 11.7% by the end of FY21. In addition, geopolitical developments such as the Russia-Ukraine crisis could lead to greater inflation, causing stress for borrowers.

Challenges Remain in Loan Collections

Given the broader industry challenges pertaining to loan collections, it becomes more important than ever to ensure that the collections process itself is as efficient and effective as possible. Currently, the collections mechanism is overrun with issues such as zero visibility, huge administrative overheads, the need for extensive manual intervention, long recovery cycles, and low-resolution rates.

Elements of an Optimum Loan Collections Mechanism

Optimizing collections with the right technology that leverages technologies such as AI, automation, and analytics is important. At the same time, ensuring a favourable customer experience is also crucial.

Here are some ways to achieve this:

Embracing Automation

Automation in banking industry is evolving with the penetration of digital and the need to drive efficiencies. Advanced technologies today enable us to automatically trigger communication sequences based on the actions of borrowers. One can create templates and automate emails, SMS, WhatsApp messages and voice messages for different segments of your borrowers. For instance, Credgenics allows lenders to send and track legal notices automatically using technology and track all digital and physical notices in one single dashboard. The solution also allows lenders to automate their legal workflow, get easy access to the recovery specialists and manage all their cases efficiently.

2. Empowering the Team to Maximize Collections

Not all borrowers are the same. As the McKinsey report titled ‘Behavioral insights and innovative treatments in collections’ observes, behaviour-based segmentation of collections strategies can help significantly improve collections.

AI can help predict the chances of recovery and recommend the best strategies for every loan account. Credgenics’ AI engine, for example, can use past loan accounts data to calculate the recovery chances, costs, and expected time for every case.

AI can also help the collections team prioritize accounts that have a greater chance of getting recoveries and remind them to follow up on time and track every call. To improve efficiencies on the ground, Credgenics CG Collect mobile app, which comes with integrated in-app calling facility and Google maps integration, can assist field agents in navigating to the borrowers’ locations.

3. Get the visibility

When it comes to dealing with large borrower databases, access to the right data and insights is valuable. Having tools in place to identify the best-performing agents, understand gaps in the collections process, collection rates, total loan amounts recovered, and even analytics on the most effective communication channels can help make processes more effective. For instance, Credgenics loan collections software platform helps lenders view various borrower details, other loan accounts, missed EMIs and recovery history, collection status, etc. in one snapshot through visual reports.

Advanced technology combined with domain expertise can help dramatically simplify the loan collection process, making it efficient and more effective.

[jersey9867]

How To Avail YES Bank EMI Moratorium?

Introduction 

In a bid to give some relief to taxpayers and homebuyers amid the Covid-19 crisis, the Reserve Bank of India (RBI) had some time back directed all banks, NBFCs and housing finance companies (HFCs) to allow three months’ moratorium on the EMI payments of various retail loans, including home loans, as well as working capital loan instalments which were due for payment between March 1, 2020, and May 31, 2020. The move was aimed at helping borrowers manage their short-term liquidity concerns.

Since the Coronavirus pandemic is still far from over, the RBI governor recently further extended the EMI moratorium by 3 months till August 31, 2020. With this extension, borrowers would now get a six-month EMI holiday for dues falling between March 1, 2020, and August 31, 2020. Various banks have announced details of the EMI moratorium on their websites. Here is a look at the details of YES Bank's moratorium on loan EMIs and credit card dues.

How to apply for an EMI moratorium at YES Bank?

Follow any one of the three methods mentioned below to opt for the EMI moratorium. 

Visit the website of YES Bank and navigate to the EMI moratorium section.

Choose the option: “I would like to opt for Moratorium” and follow the instructions on screen.

SMS: Respond to the SMS received on your registered mobile number.

E-mail: Respond to the email received from YES Bank on your registered email id. 

How to opt for a moratorium on credit cards at YES Bank?

An SMS will be sent by the Bank to Cardmembers registered mobile number with a request to ‘OPT-IN’ for the scheme. Cardholders will have to click on the link in the SMS and opt-in for the scheme. 

Participation in the moratorium scheme is entirely voluntary and it is understood that the participation by the Cardmember/s shall be deemed to have been made voluntarily.

Moratorium Benefit for Term Loans/CC/OD

Customers can avail the moratorium scheme for term loans, Cash Credit (CC) or OD facilities for the period March 01, 2020, to May 31, 2020, by requesting the Bank to opt-in for the scheme, provided the account classification with the Bank is ‘Standard’ as on March 01, 2020, and is not reported as Fraud, Red Flagged Account or Willful Defaulter by the Bank or any other Banks. 

An SMS will be sent by the Bank to your registered mobile number requesting you to ‘OPT-IN’ for the scheme. You will have to click on the link provided in the SMS and follow the instructions if you choose to opt-in, on or before April 15, 2020, unless otherwise extended by the Bank.

Instalments in Moratorium

The moratorium covers all unpaid principal and interest dues for March 2020 and all principal and interest amounts falling due in April to August 2020.

Interest During Moratorium Period

In line with RBI guidelines, the Bank will continue to charge or accrue interest during the period of moratorium. This interest accrued during the moratorium period shall need to be paid by the customer to the Bank at the end of the moratorium period. The Bank encourages the Borrower’s with adequate funds and cash flows to continue to pay the instalments to avoid additional interest and elongation of the tenor.

Overdue Loans and NPAs in Moratorium

The moratorium benefit for the principal and interest as per RBI guidelines is only eligible for dues falling between March 01, 2020, and May 31, 2020, and not for overdues outstanding as on March 01, 2020. All overdues before March 01, 2020, shall continue to attract the IRAC guidelines as applicable, without any moratorium dispensation. Hence, you are requested to clear your outstanding dues or default for the period before March 01, 2020, for which the extant IRAC and provisioning norms shall apply.

To know more about  YES Bank EMI Moratorium