Not too many companies are opting for the three-month moratorium on term loans given by the Reserve Bank of India (RBI).
Moneycontrol could not independently verify the story.
The central bank had on March 27 granted a moratorium on term loans whose installments are due between March 1 and May 31.
The move was intended to provide borrowers some relief during the nationwide lockdown to contain the spread of COVID-19.
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During an analyst call, Axis Bank said only about 25-28 percent of its customers, in value terms, and 10-11 percent, in absolute numbers, have availed the moratorium, the report said.
"The bank has given moratorium to all its retail loans while it followed an 'opt-in' model on the corporate side, where the need for moratorium was quite negligible," Kotak Institutional Equities said, as quoted by the paper.
The report said most banks noted that salaried customers are selectively opting for the moratorium.
"Salaried borrowers, whose salaries have not been impacted due to the lockdown or those who feel they can continue to and have the capacity to pay EMIs, have not opted for the moratorium," the report said.here.