THIRUVANANTHAPURAM: The 3—month- Moratorium announced by RBI for regularly paid loan accounts will apply to co-operative banks in the State too, clarified Minister for Co-operatives, Kadakampally Surendran. The moratorium effective from 1 March up to 31 May, holds good for Kerala Bank and Urban Co-op Bank also, the minister added.
Moratorium refers to a wait period when the borrower can hold back paying his loan-EMIs.
The one-time-settlement scheme announced by State govt under “Nava Keralaliyum Kudishika Nivaranum(New Kerala Debts Review)” will be valid up to 31, March 2020. Those who have arranged for remitting their one-time-settlement should use the opportunity of the scheme and ease their debts, the Minister said. If found necessary, the govt will re-open the one-time-settlement scheme post the Covid crisis after assessing the sitation, the minister added.
