Economics
India’s Central Bank Extends Moratorium on Loan Repayments
- RBI lifts group exposure limit for Indian companies to 30%
- Banks remain reluctant to lend due to bad loan legacy
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India’s central bank extended a moratorium on loan repayments for three months, in another step to provide relief for businesses struggling under the lockdown.
Reserve Bank of India Governor Shaktikanta Das announced the move after an unscheduled monetary policy meeting which also ratified an interest-rate cut intended to boost the economy.