SBI Cards and Payment Services slipped 9% to Rs.495 on 22 May to touch its post listing low after the RBI announced an extension of moratorium on loan EMIs by another 3 months till August 31. SBI Cards has now fallen 34 per cent against its issue price of Rs 755 per share. Analysts are of the view that the risk of moral hazard may be creeping in as even solvent borrowers with the ability to pay may opt for moratorium. SBI Cards is the second largest credit card issuer in India and any consumer stress hits them first. It had a weak March quarter reporting a 71% fall in pre-tax profits due to additional bad loan provisioning