(i) Rescheduling of Payments – Term Loans and Working Capital Facilities

RBI/2019-20/186

DOR.No.BP.BC.47/21.04.048/2019-20 March 27, 2020

All Commercial Banks (including Small Finance Banks, Local Area Banks and

Regional Rural Banks)

All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central

Co-operative Banks

All All-India Financial Institutions

All Non-Banking Finance Companies (including Housing Finance Companies)

Madam / Dear Sir,

COVID-19 – Regulatory Package

Please refer to the Statement of Development and Regulatory Policies released on

March 27, 2020 where inter alia certain regulatory measures were announced to

mitigate the burden of debt servicing brought about by disruptions on account of

COVID-19 pandemic and to ensure the continuity of viable businesses. In this regard,

the detailed instructions are as follows:

(i) Rescheduling of Payments – Term Loans and Working Capital Facilities

2. In respect of all term loans (including agricultural term loans, retail and crop loans),

all commercial banks (including regional rural banks, small finance banks and local

area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including

housing finance companies) (“lending institutions”) are permitted to grant a

moratorium of three months on payment of all instalments1 falling due between March

1, 2020 and May 31, 2020. The repayment schedule for such loans as also the residual

tenor, will be shifted across the board by three months after the moratorium period.

Interest shall continue to accrue on the outstanding portion of the term loans during

the moratorium period.