Loan moratorium: Most pvt banks go for "opt-in" option

The RBI had announced a 3-month moratorium on loan repayments in the wake of COVID-19 crisis for dues to be paid between March-May 2020 and left it to the bank to implement the same. A slew of state-run banks have gone for an "opt-out" option where the repayments automatically get deferred unless a customer informs of her willingness to pay.

from Banking/Finance-Industry-Economic Times https://ift.tt/2xAwfjP