Irdai permits insurers to grant moratorium on term loans

The Insurance Regulatory and Development Authority of India (Irdai) on Wednesday permitted insurance companies to grant a moratorium of three months on payment of term loans in line with the Reserve Bank's directions. In a circular, Irdai said it has received representations from industry associations, seeking moratorium on repayment of term loans sanctioned by the insurers in the context of outbreak of Covid-19.

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