Repayment Moratorium Policy of Avanti Finance Private Limited
Reserve Bank of India (RBI) has released the Statement of Developmental and Regulatory Policies on March 27, 2020 that directly addresses the stress in financial conditions caused by COVID-19. One of the policies relates to easing financial stress caused by COVID-19 disruptions by relaxing repayment pressures and improving access to working capital. In this area, RBI has permitted all lending institutions including NBFCs to grant a moratorium of three months on payment of all instalments falling due between March 1, 2020 and May 31, 2020. RBI has permitted to shift the repayment schedules and all subsequent due dates, as also the tenor for such loans across the board by three months. RBI has also asked all the lending institutions to put in place a Board approved policy in this regard.
Our company being a Non-Banking Finance Company registered with RBI has framed the following policy after considering the policy guidelines issued by RBI vide circular no. RBI/2019-20/186 DOR. No. BP. BC. 47 / 21.04.048 /2019-20 dated March 27, 2020:
Approved by the Board of Directors of Avanti Finance Private Limited on April 03, 2020
Relief measures approved by the Board for the retail loans outstanding as on March 31, 2020
Relief measures approved by the Board for the institutional loans outstanding as on March 31, 2020
All institutional borrowers will be provided an option to opt for moratorium. However, decision pertaining to grant of moratorium will be solely made by Avanti, on a case to case basis.
For further details, you may click here for FAQs related to moratorium under Covid-19.
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Loan Account No.
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Avanti Finance, No. 456, Ground 1st & 2nd Floor, 4th Block, BDA Layout, Koramangala Extension, Kormangala, Bengaluru 560034
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