{"id":12125,"date":"2020-09-04T14:49:51","date_gmt":"2020-09-04T09:19:51","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?p=12125"},"modified":"2021-08-12T15:26:23","modified_gmt":"2021-08-12T09:56:23","slug":"centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/","title":{"rendered":"Centre Considering Loan Extension Term Until December Due to COVID-19 Adverse Impact"},"content":{"rendered":"\n<p>The COVID-19 pandemic has some worse ever\ninfluences on every segment of our socio-economic system. The banking sector in\nIndia is currently going through terrible stress due to the loan moratorium\nimposed by the Government. Many have even raised the issue of uncertainty\nfurnishing toward any losses due to the pandemic. At present, the loan\nmoratorium deadline is up to August 31, 2020. The Government of India has put\non hold the matter of loan moratorium date extension.<\/p>\n\n\n\n<p>According to a government official, it is\nnot yet decided regarding date extension issue, however, there are continuous\ndiscussions with RBI and other stakeholders being held related the same. The\nRBI has sanctioned the loan extension on May 22, for another three months till\nthe end of August considering the probable lockdown extension. The basic idea\nof such an extension was to help distressed borrowers who were the victims of\nincome loss as a consequence of COVID-19.<\/p>\n\n\n\n<p>The banking sector does not seem in favour of <a href=\"https:\/\/www.antworksmoney.com\/personal-loan\">loan moratorium<\/a> extension as they fear that further extension may have a substantial toll on the quality of banking service. In case the extension takes place, the identification of bad loans and their provisioning would face great difficulty to happen before the end of the next financial year. This may result in the possibility of not providing funds into the public sector banks for capitalization.<\/p>\n\n\n\n<p>The global rating agency, Standard and\nPoor\u2019s predicts a spike of 14 percent in the financial year 2021 from around\n8.5 percent in the financial year 2020 for gross non-performing assets (NPAs)\nof Indian banks. The agency report also states that the credit flows and\nultimately, the economy might get severely disturbed as the COVID-19 pandemic\nupset the recovery of India&#8217;s banking sector by years. <\/p>\n\n\n\n<p>The RBI governor expressed his concern\nregarding the need for preparation for hard times as a possibility of spike for\nNPAs on account of COVID-19. He also stressed the need to increase the capital\nbase of the bank to build a buffer. <\/p>\n\n\n\n<p>There is a steep downfall of total gross\nNPAs of banks from around 9.1 percent in March last year to 8.3 percent in the\nsame period this year. In recent months, the NPA level has come down but that\ntendency is unexpected to continue due to the pandemic. However, before the\nCOVID-19 pandemic in December last year, RBI had predicted NPAs to fasten to\n9.9 percent by September. <\/p>\n\n\n\n<p>The RBI governor has asked banks to give stress on developing buffers and risk management. These measures, which are already under process, could help the occurrence of a second NPA wave to handle for Indian banks. Inorder to have control over the economic situation and to help existing borrowers, the central government is considering the loan moratorium extension till December-end. This step will prove to be a great relief for the stressed citizens worried about debts and decreased sources of income. Apply Now : <a href=\"https:\/\/bit.ly\/32VWLjF\">https:\/\/bit.ly\/32VWLjF<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The COVID-19 pandemic has some worse ever influences on every segment of our socio-economic system. The banking sector in India is currently going through terrible stress due to the loan moratorium imposed by the Government. Many have even raised the issue of uncertainty furnishing toward any losses due to the pandemic. At present, the loan &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Centre Considering Loan Extension Term Until December Due to COVID-19 Adverse Impact&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":12127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Centre Considering Loan Extension Term Until December Due to COVID-19 Adverse Impact<\/title>\r\n<meta name=\"description\" content=\"The COVID-19 pandemic has some worse ever influences on every segment of our socio-economic system. 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The banking sector in India is currently going through terrible stress due to the loan moratorium imposed by the Government.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antworksmoney\/\" \/>\r\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/antworksmoney\" \/>\r\n<meta property=\"article:published_time\" content=\"2020-09-04T09:19:51+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2021-08-12T09:56:23+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2020\/09\/Due-to-covid-19-adverse-impact.png\" \/>\r\n\t<meta property=\"og:image:width\" content=\"900\" \/>\r\n\t<meta property=\"og:image:height\" content=\"449\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\r\n<meta name=\"author\" content=\"Team Antworks\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:site\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team Antworks\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/\"},\"author\":{\"name\":\"Team Antworks\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7\"},\"headline\":\"Centre Considering Loan Extension Term Until December Due to COVID-19 Adverse Impact\",\"datePublished\":\"2020-09-04T09:19:51+00:00\",\"dateModified\":\"2021-08-12T09:56:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/\"},\"wordCount\":494,\"publisher\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\"},\"articleSection\":[\"Loan\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/centre-considering-loan-extension-term-until-december-due-to-covid-19-adverse-impact\/\",\"name\":\"Centre Considering Loan Extension Term Until December Due to COVID-19 Adverse Impact\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\"},\"datePublished\":\"2020-09-04T09:19:51+00:00\",\"dateModified\":\"2021-08-12T09:56:23+00:00\",\"description\":\"The COVID-19 pandemic has some worse ever influences on every segment of our socio-economic system. 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