There are many COVID-19 Jokes. This one is by RBI. Sounds morbid? read on..

RBI has allowed all Banks and Indian Financial Institutions to offer its customers an option of EMI moratorium up to 3 months
The customer can choose to defer their EMI payments scheduled from Mar 1st, 2020
to May 31st, 2020.
All  Bank customers who have availed of retail instalment loan or any other retail credit facilities prior to 1st March 2020 are eligible.
Retail loans or Term loan like Car Loan, Personal Loan or Jumbo Loan or any other retail credit facilities prior to 1st March 2020 are eligible.
• All Agri Loans (Kisan Gold Card) and Microfinance customers  are eligible.
• All Corporate as well as SME customers are eligible.
If a customer chooses EMI moratorium Bank will not ask for any EMI Payment until May 31st, 2020.
• Interest will continue to accrue on the principal outstanding for the period of the moratorium at the contracted rate of the loan.
• The loan tenure will get extended by the corresponding period for which the moratorium has been availed.
The customer is completely free to choose and no further action will be required if they
don’t want to opt for the EMI moratorium. Unless customer asks, we will continue normal operations in their account including presentation of EMI loans or collection of interest / instalments.
• The start point of benefit of moratorium is when the customer approaches the bank or there is nonpayment of dues now or in normal course of business.
• Also, no changes will be made by the bank to customer’s repayment instructions.
• However, if customer skips to pay the EMI during this period, bank will understand that the customer has opted for EMI moratorium till May 2020.

You should know that the opting for the moratorium is entirely your choice
Eligible customer can opt for moratorium at any point of time during the permitted moratorium period even if the EMIs are already paid.
The already debited EMI will be refunded by Bank and register the Loan account under the moratorium process.
If customers avail the EMI moratorium, there will be a levy of interest at the contracted rate of the loan for the period of EMI moratorium on the loan outstanding.
• Such interest will be collected by extending the original tenor of the loan accordingly
Customer can defer their EMI by providing their consent to the bank
And once the request is submitted it cannot be changed /modified.
They can opt for EMI moratorium for as many loans that they have availed
from the bank.
• additional interest for the EMI moratorium period will be applicable for each loan separately.
Customer has to submit the requests separately for each loan facility with the bank.
Will the moratorium facility affect customer’s Credit Rating?
• No. Opting for the EMI moratorium will not affect any customers Credit Rating or Score
Are all credit card customers eligible for this moratorium?
• Yes.
The moratorium is available on Credit Card outstanding and Loans availed on Credit Cards for payments due from 01st Mar, 2020 till 31st, May 2020.
• The moratorium allows customer to defer the payment till 31st May, 2020.

Will there be any interest levied for the moratorium period on customers’ credit card
outstanding and loan on credit cards?
• Yes, interest will be levied as per the contracted rate on the card. Opting for 3 months moratorium allows customers to defer their Credit Card outstanding payment and loan instalments on their Credit Card till 31st May 2020.
Kindly note, that the EMI moratorium is a deferment of payment and not a waiver of interest. Customer is required to pay the minimum amount due or total outstanding along with accrued interest charges on the due date after 31st May 2020.

Is moratorium applicable on Corporate Commercial Credit Card?
• Yes, Moratorium of outstanding / repayments on credit is also applicable on HDFC Bank Corporate /Commercial Credit Card.