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  • 3 years ago

Business owners worry as end of loan holiday threatens pain, defaults

Sep 24, 2020, 06:31PM ISTSource: TOI.in

Small businesses in India are now having to repay mounting debt after a loan holiday ended last month. The RBI gave borrowers a 6-month freeze on their loan repayments, which ended on August 31. About a third of India’s $1.8 trillion outstanding loans were being deferred under the program. Businesses trying to cope with a collapse in demand must now figure out how to pay back their loans or face closure.

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