Assertion (A): In March 2020, RBI offered a 3-month moratorium on loans enabling borrowers to defer the repayments on EMI and other loans
Assertion (A): In March 2020, RBI offered a 3-month moratorium on loans enabling borrowers to defer the repayments on EMI and other loans, which was further extended to 3 more months till 31st August 2020.
Reason (R): The aim of RBI was to provide relief to borrowers because of the economic impact of Covid-19 pandemic.
Alternatives:
(a) Both Assertion (A) and Reason (R) are True and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are True and Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is True but Reason (R) is False
(d) Assertion (A) is False but Reason (R) is True
Anurag Pathak Changed status to publish January 5, 2024
Ans – (a)
Explanation:-
During the COVID-19 pandemic, economic transactions were stopped.
The borrowers did not have a flow of money to pay the installments.
Thus Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).
Anurag Pathak Changed status to publish January 5, 2024
