The RBI directive suggested that all lending institutions such as banks, Non-banking Finance Companies (NBFCs), Housing Finance Companies (HFCs), Micro Financial Institutions (MFIs) and others will permit term loan borrowers (including agricultural term loans, retail and crop loans) and credit card borrowers a three-month moratorium on payment of all instalments falling due between 1 March to 31 May 2020. RBI has also permitted to defer recovery of interest applied concerning cash credit and overdraft facilities between a period 1st March to 31 May, 2020. However, interest will continue to accrue on the outstanding portion of the term loan, Cash Credit (CC) or Overdraft facilities (OD) during the moratorium period. In the case of CC and OD facilities, the accumulated accrued interest on such a sanctioned amount shall be recovered immediately after the completion of this period.