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Four-month moratorium on cooperative bank loan repayments

Press Trust of India  |  Thiruvananthapuram 

The today announced a four-month moratorium on repayment of loans availed from and institutions.

The decision in this regard was taken at a Cabinet meeting to ease difficulties being faced by people following of Rs 1,000 and Rs 500 notes. The moratorium will continue till March 31, 2017, a release said. Cooperation minister Kadakampally Surendran told reporters after the meeting that no action will be taken against loan defaulters during the period.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 30 2016. 16:22 IST