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IRDAI grants 3-month moratorium on term loans sanctioned by insurance Cos.

May 20, 2020
The IRDAI has received representations from industry associations seeking moratorium on repayment of term loans sanctioned by the Insurers, in the context of outbreak of Covid-19. The RBI has issued directions, providing certain moratorium to the borrowers of Term Loans. Considering the cash flow problems faced by the borrowers and in line with the RBI directions, the IRDAI has issued instructions on providing 3 month moratorium on repayment of term loans.
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