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Till recently, the depositors of YES Bank Ltd and even now the Punjab & Maharashtra Co-operative Bank Ltd would get nightmares on hearing the word “moratorium”. Now, for millions of borrowers in India’s financial system, both corporate and retail, moratorium is music to the ears.
In the world of finance, a moratorium is a temporary suspension of an activity in response to sudden financial hardships. Last week, in an out-of-turn meeting of the Monetary Policy Committee, the Reserve Bank of India (RBI), cut the policy rate to its historic low and announced a slew of measures to boost liquidity in
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