New Delhi, March 27 -- In a big relief to the corporate sector, the Reserve Bank of India on Friday allowed a three month moratorium on payment of instalment in respect of all term loans outstanding on March 1, 2020.

"All commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance in stitutions) are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March 1, 2020," RBI governor Shaktikanta Das said while announcing a series of liquidity measures after the monetary policy committee (MPC) meeting.

Accordingly, the ...