DO CUSTOMER LIKE EMI MORATORIUM? INSIGHT FROM INDIAN CONTEXT.
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Abstract
Moratorium helps the borrowers to plan the expenses when there is income uncertainty during the crisis of Covid. It helps the borrowers to reduce the financial stress which helps to plan and prioritize the payment of debt. Therefore, moratorium is not a waiver, unpaid Equated monthly installments (EMI) will be added to the principal which in turn add burden for the borrower to settle remainder of loan tenure. This paper proposes the framework of studying perception of customers towards the EMI moratorium. The perception of EMI moratorium is examined from using the data from Chennai Bank customers of Loan. Our Results indicates that eight factors determine the EMI moratorium from this study. Additionally, the most significant factor is Bank assistance. The study theoretically constitutes the insights into the payment of loan and practically will help the bank to policy and guidelines for the Moratorium of the Loan.