In line with RBI's COVID-19 Regulatory Package, BAF India customers may continue to make payments towards your loan or avail moratorium on payment of EMI outstanding till 31 Aug 2020. If you do not want the EMI moratorium, no further action is required from your side, we will continue to bank your repayment instructions
In accordance with the provisions of Circular No. DOR.No.BP.BC.47/21.04.048/2019-20 dated March 27, 2020 and DOR.No.BP.BC.71/21.04.048/2019-20 dated May 23, 2020 read with the Policy on Moratorium – COVID 19 Regulatory Package (‘Moratorium Policy’)
Policy on Moratorium on EMI – COVID 19 Regulatory
issued by Bussan Auto Finance India Private Limited (‘BAF India’ or ‘Company’), the Company had granted Moratorium Benefit to its Customers for their loan accounts maintained with the Company.
In view of the above and the Circular No. NPCI/2019-20/NACH/Circular No. 012 issued by the National Payments Corporation of India (NPCI), the Customers are hereby informed that to record the impact of the Moratorium Benefit availed by the Customers, the NACH mandates shall be amended by changing the Loan Amount and/or the NACH mandate tenure.
It may be noted that the rescheduling of the payment was a condition precedent to the Moratorium Benefit availed by them, therefore, the Company have an implied consent from the Customer for NACH mandate amendment.
In case of any dispute, the Customers may contact the Company at 1800-10-223-48 or write at email@example.com.