In this blog, Mr. Sandeep Bakhshi talks about ICICI Bank's plans around Moratorium and Covid-19.

Here are the measures are undertaken by one of the top private banks – ICICI Bank to safeguard the balance sheet against the pandemic. It also covers Mr. Sandeep Bakhshi, ICICI Bank’s MD and CEO’s take on how he is tackling potential risks and uncertainties

The current scenario has tested the resilience of banks while dealing with unprecedented global economic challenges. All the leading banks have followed certain strategies to cushion the impact of the pandemic, including their loan book under the RBI’s moratorium policy. Let’s look at ICICI Bank’s approach below.

What is Moratorium Period?

A moratorium period delays the EMI (Equated Monthly Instalment) for the given time period. Usually, loan repayment begins as soon as the loan is disbursed. In other words, a moratorium is actually a type of grace period offered to borrowers on a loan amount after it is being disbursed. However, borrowers needs to pay the interest accrues during the moratorium period. It is also called a EMI holiday or deferment period.

Click here to read more about the statement made by Mr. Sandeep Bakhshi, ICICI Bank CEO.