CREDAI Maharashtra has sought an extension of the loan moratorium from the Supreme Court stating that its builders might be in default on September 1 once the moratorium period ends.
The loan moratorium period offered by the Reserve Bank of India (RBI) ends after August 31. The RBI had in March announced a moratorium on repayment of term deposits for three months, which was later extended till the end of August. The move was intended to provide borrowers relief during the COVID-19 pandemic.
CREDAI or the Confederation of Real Estate Developers’ Associations of India is the apex body of private real estate developers.
The RBI had in March announced a moratorium on repayment of term deposits for three months, which was later extended till August 31. The move was intended to provide borrowers relief during the COVID-19 pandemic.
