33 C
- Advertisement -

SBI Offers Repayment Relief, Soon HDFC And ICICI Also Provide

Must Read

KKR vs MI IPL 2020: Mumbai Indians Defeats Kolkata Knight Riders By 49 Runs

Mumbai Indians, who began their season with a loss in the IPL 2020, made a spectacular comeback in the second match. Not only this,...

IPL 2020: Chennai Super Kings Won Their First Game Against Mumbai Indians

In the first match of the Indian Premier League 2020 (IPL 2020), Chennai Super Kings defeated Mumbai Indians (CSK beat Mumbai). Chennai Super Kings...

Delhi Schools Will Remain Closed Till October 5th, Online Classes Will Continue

A major and important decision has been taken regarding schools in the national capital Delhi amid increasing cases of corona infection (COVID-19). According to...

IPL 2020: Delhi Capitals Beat Kings XI Punjab In Super Over

In the Indian Premier League (IPL 2020), there are often exciting matches, but the kind of match that happened on Sunday between Kings XI...
- Advertisement -

State Bank of India has given repayment relief to its retail borrowers and home loan borrowers affected by Corona (SBI loan restructuring). The bank will either provide a moratorium of up to two years i.e. 24 months or extend the period by 2 years by restructuring the loan. Announcing the scheme, CS Shetty, managing director of State Bank of India, said that, “the period of restructuring would depend on when the corona-affected person’s income would start or how long he or she could resume employment.”

Who Will Get This Facility

This facility of State Bank of India will be available to those who have taken a loan before 1 March 2020 and their income has been affected due to the lockdown. However, borrowers must prove that their income has been affected by the coronavirus epidemic. That is, do not think that every customer can take advantage of this facility.

Banks Like HDFC And ICICI Can Also Provide Loan Restructuring

State Bank of India is at the forefront of loan restructuring. But in times to come, banks like HDFC and ICICI can also facilitate loan restructuring. It is expected that these banks can move towards this facility by the end of this month. State Bank of India has also launched an online portal to understand the loan restructuring ability of the people.

The Duration Of Moratorium Will Be Decided Like This

moratorium period-SBI repayment relief

After a thorough analysis of the source of income of the customer, the bank will find out how many days the Moratorium facility should be given to a customer. As per the guidelines from the Reserve Bank of India, the moratorium facility will be provided to the borrowers from 6 months to 2 years. Who will get this facility for 6 months and for more days, it will be known after the analysis.

Over 90 Lakh Customers Would Take Advantage Of This Facility

As of June, the moratorium facility is currently being provided on about 10% of the bank’s loan. Rajnish Kumar, Chairman of State Bank of India, believes that more people will not apply for loan restructuring. But experts believe that about 9 million people would like to take advantage of this facility. So any corporate or MSME who wants to avail SBI loan restructuring, have to go to any branch of the bank. They will not be able to avail this facility online.

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

You May Also Like!!

KBC 12: IPS Mohita Sharma Became The 2nd Millionaire Of The Season

The 12th season of the popular quiz reality show 'Kaun Banega Crorepati (KBC 12)' has got the second millionaire. IPS officer Mohita Sharma answered...

Citroen Launched Cheapest Electric Car Ami: Goes 70km In Single Charge

Keeping the prices of expensive electric cars in mind, automakers in the world are insisting on making cheap electric cars. Keeping this in mind,...

Valorant Patch 1.08 Brings Raze Changes And Guardian Buffs

Patch 1.08 for Valorant is soon upon us, and Riot has revealed the scoop. In short: Raze is seeing some balancing and Riot is trying to make...

Want To Have A Thinner Waist? Black Pepper And Lemon Will Do The Job

We all want to have a thin waist and a flat stomach. But there are very few lucky boys and girls among us, whose...
- Advertisement -