Banks Asked To Defer EMIs In Violence-Hit Manipur For Up To 12 Months

For retail loans under P-segment in violence-hit Manipur - personal, pension, vehicle, housing - the EMIs may be deferred by 12 months

Banks in violence-hit Manipur have been told to extend the moratorium on loans up to 12 months, officials said today.

Manipur Institutional Finance Department Director Anna Arambam said that a bankers' committee meeting decided that banks will reschedule existing loans of and sanction fresh ones to borrowers in agricultural, MSME and retail sectors.

Mr Arambam said banks have been told to extend the moratorium period up to 12 months from the date of implementation of the rehabilitation and restructuring measures.