Some of us may not be able to pay our outstanding EMIs for the next few months due to the coronavirus situation. Considering this, RBI has permitted financial institutions to provide three months moratorium.
This will be temporarily stopped for 3 months. You will have to pay the EMIs as the moratorium ends after 3 months. These 3 months break in EMI will be collected from you by extending the loan tenure and adding more interest for this break.