Covid-19 relief: Citi Bank releases FAQ on deferred EMIs and its impact

RBI had ordered a moratorium of three months on EMIs

The Reserve Bank of India announced a slew of measures to deal with the coronavirus (Covid-19) pandemic. The measures were aimed at providing relief to the common people by allowing a moratorium of three months on payments of EMIs. Citi Bank released an FAQ on what its customers can expect. 

Q1. What is the allowed “Moratorium”?

Moratorium is an option provided to not make payments towards the cards dues for 3 months starting 1st Mar 2020 and ending

31st May 2020. During this period, customers can choose not to make payments which are otherwise due on the payment due dates per the