RBI clears the Air! Credit Card dues can be a part of a 3-Month Moratorium

In my post, No Relaxation on Credit Card Outstanding, I already told you guys that Credit Card outstandings should fall under term-loan as to date the plastic card has always been classified as a short-term credit financing instrument. And that I was not sure as to why RBI did not count it as a term loan. 

Fortunately, RBI has finally clarified that credit card dues are included in the term loans on which banks can offer a 3-month moratorium. You can read the full official RBI circular by clicking here.

Source: CNBC-TV-18

So, now we all credit card freaks can have some peace of mind finally.

Do take care of yourself and your family during this critical time, and please stay home.

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Thanks for reading!