Pursuant to the RBI circular RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 dated March 27, 2020 and in terms of Company’s Policy on special measures to mitigate the burden of debt servicing brought about by disruptions on account of COVID -19, I/we request you to provide moratorium in my repayment schedule for a period effective from (date of request) until 31st May, 2020.
I/we are aware that the circular is regarding payment of installments falling due between March 1, 2020 and May 31, 2020. This will exclude any payment already made towards the loan during this period. No Refund, adjustments will be done since these are already adjusted as per the existing repayment schedule.
I/We, hereby confirm to have understood the contents of the above stated RBI circular and the company’s policy in this regards. I understand that the repayment schedule will be shifted across by the said period after the moratorium period and interest shall continue to accrue on the outstanding portion of the term loan during the moratorium period.
We would be highly obliged if you consider this request as per the recent Government / RBI Announcements vide circular RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 dated March 27, 2020 regarding payment of instalments falling due between March 1, 2020 and May 31, 2020.