The Reserve Bank of India has told banks and NBFCs that all borrowers should get the 3-month moratorium and can opt-out if they choose. There has been uncertainty over the directive as some banks have made moratorium applicable to all customers while others have given the choice of availing the facility to customers. The RBI has sent an email communication to all the banks making it mandatory for all banks and financial institutions to consider all customers ‘under moratorium by default’.
