Debtors await clarity as moratorium ends
4 years, 3 months ago

Debtors await clarity as moratorium ends

Live Mint  

Borrowers stare at an uncertain future as banks and non-banking financial companies are yet to come up with policies on restructuring of loans. Mumbai-based Tarun Shetty, 35, for instance, has three personal loans from HDFC Bank, Kotak Mahindra Bank and Clix Capital. Among lenders and card issuers Mint spoke to, only Federal Bank and SBI Cards and Payment Services Ltd have started offering restructuring plans. Those who are facing cash flow problems due to job losses or pay cuts can approach the bank with relieving letter or bank statement and get the loan recast,” said Babu K.A., senior vice-president and head–loan collection and recovery, Federal Bank. According to rating agency India Ratings and Research, around 7.7% of the total bank credit at end-March from corporate and non-corporate segments could get restructured, based on the Reserve Bank of India’s resolution framework.

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SBI loan restructuring: How interest will be calculated during moratorium extension period
4 years, 2 months ago

SBI loan restructuring: How interest will be calculated during moratorium extension period

India Today  

A few days ago, the country’s largest lender State Bank of India came out with a set of rules and regulations for offering an extension on loan repayments to those affected financially by the Covid-19 pandemic. However, there are several key aspects that Covid-affected customers need to know before availing moratorium extension on repayments under SBI’s loan repayment framework. Loan …

Loan moratorium: RBI likely to announce one-time loan restructuring guidelines soon
4 years, 3 months ago

Loan moratorium: RBI likely to announce one-time loan restructuring guidelines soon

Live Mint  

The Reserve Bank of India is likely to announce the financial parameters of its proposed loan restructuring scheme soon. In his interview to CNBC Awaaz, RBI Governor Shaktikanta Das said that banks can extend the loan moratorium by 3, 6 or even 12 months under the one-time restructuring. To mitigate the hardships faced by the borrowers during coronavirus pandemic, the …

RBI May Not Extend Moratorium on Repayment of Loans Beyond August 31
4 years, 3 months ago

RBI May Not Extend Moratorium on Repayment of Loans Beyond August 31

News 18  

The Reserve Bank is unlikely to extend the moratorium on repayment of bank loans beyond August 31 as an extension could impact the credit behaviour of borrowers without resolving the issues being faced by them following the outbreak of the COVID-19, sources said. It was only a temporary reprieve to borrowers affected by the pandemic, the sources said, adding that …

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