NBFCs and MFIs have urged the Reserve Bank of India to extend the moratorium on repayments of dues till at least 30 June – for both customers and para-banking institutions – and allow the restructuring of loans of NBFCs due to banks. They also want rating agencies to refrain from effecting any downgrade caused by the economic stagnation due to the lockdown. Representatives of NBFCs, MFIs and mutual funds had mete RBI governor Shaktikanta Das via video conferencing to discuss liquidity from banks and other financial institutions, and the moratorium to be offered to customers. At the meeting, MFIs and NBFCs also asked if the relaxation on asset classification norms could be extended up to 30. While NBFCs and MFIs have extended the moratorium to customers according to the RBI directive, banks are not willing to extend any such facility to NBFC borrowers
