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    Not seeing many customers using moratorium facility on credit cards, says SBI Cards' Hardayal Prasad

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    Not seeing many customers using moratorium facility on credit cards, says SBI Cards' Hardayal Prasad

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    In an interview to CNBC-TV18, Hardayal Prasad, MD and CEO of SBI Cards discussed credit card spends and the impact of the moratorium on retail customers post the lockdown.

    On April 3, Reserve Bank of India (RBI) had provided a three-month moratorium on fixed-term loan and credit card dues between March 1 and May 31, 2020. The announcement was made to provide relief to borrowers affected by the nationwide lockdown to contain the spread of coronavirus.
    In a chat with CNBC-TV18, Hardayal Prasad, MD and CEO of SBI Cards discussed credit card spends and the impact of the moratorium on retail customers post the lockdown.
    Prasad said that they are complying with RBI's directives and have offered credit card moratorium to all customers by default. “We are not seeing a very large number of customers who are coming forward and using the moratorium facility. If the facility is available, people realise that in case they have disposable income, they need to go ahead and repay. There are people who would definitely be affected by COVID-19 and these are the people who are taking advantage of the moratorium,” he said.
    However, he pointed out that according to latest data, repayments are looking fairly good. He highlighted that the credit card limit of customers are reviewed on a regular basis. “We continue to look at the profile of the customer to set credit limit,” he said.
    For more, watch the video.
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