Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman
4 years, 7 months ago

Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman

Firstpost  

State-owned banks have sanctioned about Rs 6.45 lakh crore worth loans to various sectors including MSME, agriculture and retail between 1 March and 15 May when businesses were reeling under the impact of COVID-19 crisis New Delhi: State-owned banks have sanctioned about Rs 6.45 lakh crore worth loans to various sectors including MSME, agriculture and retail between 1 March and 15 May when businesses were reeling under the impact of COVID-19 crisis. Loans sanctioned at the end of May 8 stood at Rs 5.95 lakh crore. Loans worth over Rs 6.45 lakh crore were sanctioned by PSBs during March 1 – May 15 for 54.96 lakh accounts from MSME, Retail, Agriculture & Corporate sectors; A notable increase compared to the Rs 5.95 lakh crore sanctioned as of May 8. @FinMinIndia @RBI @DFS_India @PIB_India — Nirmala Sitharaman Office May 19, 2020 “Public Sector Banks sanctioned over Rs 1.03 lakh crore as emergency credit lines & working capital enhancements in the period 20 March to 15 May, which is a substantial increase over the Rs 65,879 crore that had been sanctioned up to 8 May,” she said.

Loans Rbi Banks Lakh Msme 15 May Worth Loans 1 March Crore Sanctioned  crore  sanctioned  businesses  nirmala  worth  lakh  rbi  psbs  msme  banks  march15  sitharaman  loans  moratorium  rs  lockdown

History of this topic

Borrower Can't Claim Loan Moratorium As A Right Based On RBI's Circular Of March 2020 : Karnataka High Court
2 years, 11 months ago

Borrower Can't Claim Loan Moratorium As A Right Based On RBI's Circular Of March 2020 : Karnataka High Court

Live Law  

The Karnataka High Court recently set aside the directionsissued to Reserve Bank of India by a single judge bench of the High Court directing it to monitor the implementation of Covid-19 package announced on March 27, 20202, by which RBI had allowed Banks to declare a three-month moratorium on all term loans, outstanding as on March 1, 2020. Senior Advocate …

Kerala CM seeks moratorium on loan repayment
3 years, 5 months ago

Kerala CM seeks moratorium on loan repayment

The Hindu  

Chief Minister Pinarayi Vijayan on Thursday sought more cooperation from banks for effectively overcoming the pandemic-induced economic downturn. Mr. Vijayan urged the banks to ensure maximum coverage for farmers, dairy farmers and fishers under the Pradhan Mantri Kisan Samman Nidhi. The Chief Minister encouraged banks to provide liberal assistance to agricultural production groups that are being formed under the State …

FM Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for Covid-hit sectors
3 years, 6 months ago

FM Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for Covid-hit sectors

India Today  

Finance Minister Nirmala Sitharaman on Monday announced a credit guarantee scheme worth Rs 1.1 lakh crore for Covid-affected sectors. READ: Finance Minister Sitharaman's Rs 6.28 lakh crore Covid stimulus package | 8 announcements She also said that the interest rate on the new credit guarantee scheme is two per cent below the RBI prescribed rate, with a loan duration of …

Breaking: COVID-Plea In Supreme Court Seeks Relief To Borrowers In Form Of Fresh Loan Moratorium, Temporary Cease On Declaration Of NPA By Banks
3 years, 8 months ago

Breaking: COVID-Plea In Supreme Court Seeks Relief To Borrowers In Form Of Fresh Loan Moratorium, Temporary Cease On Declaration Of NPA By Banks

Live Law  

A plea has been filed before the Supreme Court seeking directions for relief to borrowers in the form of a fresh loan moratorium, extension of time period under the restructuring scheme and temporary cease on the declaration of NPA by the financial banks to bring a relief for the public interest at large in wake of the Pandemic.The plea has …

Bring policy to refund 'interest on interest' charged during moratorium period: RBI asks NBFCs
3 years, 9 months ago

Bring policy to refund 'interest on interest' charged during moratorium period: RBI asks NBFCs

India TV News  

The Reserve Bank of India has directed all banks and NBFCs to immediately put in place a board-approved policy to refund or adjust the 'interest on interest' charged to borrowers during the moratorium period of March 1 to August 31, 2020. In a major relief to big borrowers, the Supreme Court last month ruled that no penal or compound interest …

Loan moratorium case | Refund penal interest on EMIs, Supreme Court tells lenders
3 years, 9 months ago

Loan moratorium case | Refund penal interest on EMIs, Supreme Court tells lenders

The Hindu  

The Supreme Court on Tuesday directed banks and financial institutions to refund compound interest, interest on interest or penal interest collected on EMI for loans during the period of moratorium from March 1 to August 31 last year. The court said the amount accumulated as compound/penal interest or interest on interest during the six-month moratorium on term loan EMIs should …

Supreme Court Bars Charging Compound Interest Or Penal Interest On Any Borrower During Loan Moratorium; Refuses Moratorium Extension
3 years, 9 months ago

Supreme Court Bars Charging Compound Interest Or Penal Interest On Any Borrower During Loan Moratorium; Refuses Moratorium Extension

Live Law  

The Supreme Court on Tuesday directed that there should be no charging of compound interest, interest on interest or penal interest on the installments which were due during the loan moratorium period from March 1 to August 31 last year on any borrower, irrespective of the loan amount. Terming this policy of the Centre to be "arbitrary and discriminatory", the …

Supreme Court Bars Compound Interest, Penal Interest During Loan Moratorium
3 years, 9 months ago

Supreme Court Bars Compound Interest, Penal Interest During Loan Moratorium

Live Law  

The Supreme Court on Tuesday directed that there should be no charging of compound interest, interest on interest or penal interest on the installments which were due during the loan moratorium period from March 1 to August 31 last year on any borrower, irrespective of the loan amount. Terming this policy of the Centre to be "arbitrary and discriminatory", the …

Data | Why did bad loans in banks reduce despite COVID-19 and economic downturn?
4 years ago

Data | Why did bad loans in banks reduce despite COVID-19 and economic downturn?

The Hindu  

The ratio of Gross Non-Performing Assets in Indian banks decreased in FY20 and FY21 despite the impact of COVID-19 and the economic downturn that preceded it. This was mostly due to three factors: 1) Banks wroteoff relatively more NPAs in FY20 to clean their balance sheets; 2) Some large NPA accounts got resolved through debt-recovery channels; and 3) It is …

Loan Moratorium- Resolution Framework For COVID-Related Stress More Restrictive Than Prudential Norms For Normal Times: SC Told
4 years ago

Loan Moratorium- Resolution Framework For COVID-Related Stress More Restrictive Than Prudential Norms For Normal Times: SC Told

Live Law  

Senior Advocate Ravindra Srivastava, for the group, told the bench of Justices Ashok Bhushan, R. Subhash Reddy and M. R. Shah that the banks are "prevailing over" the government and the RBI and "making huge profits". Mr. Srivastava argued that while the Kamath committee had mentioned 26 sectors as having been severely-impacted during the Covid pandemic, the waiver of compound …

No case of COVID-19 related stress to which banks showed apathy, RBI tells SC
4 years ago

No case of COVID-19 related stress to which banks showed apathy, RBI tells SC

The Hindu  

The Reserve Bank of India on Wednesday maintained in the Supreme Court that there has not been a single case of COVID-19 related financial stress to which banks have shown an “apathetic” attitude. A three-judge Bench led by Justice Ashok Bhushan is hearing several pleas by industry and business sectors, including power and real estate, to extend the moratorium or …

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P
4 years, 1 month ago

Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P

The Hindu  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11% of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is “masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the proportion of …

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P
4 years, 1 month ago

Non-performing Loans in Indian Banking Sector to Rise in Next 12-18 Months: S&P

News 18  

Non-performing loans in the Indian banking sector is likely to witness an uptick and may shoot up to 11 per cent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is ”masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the …

Here is What You Will Get if You Paid Your EMIs on Time During Loan Moratorium Period
4 years, 2 months ago

Here is What You Will Get if You Paid Your EMIs on Time During Loan Moratorium Period

News 18  

The Reserve Bank of India had in March, after the outbreak of the novel coronavirus, provided a moratorium on repayment of EMIs and credit card dues for three months. The top court in the due course directed the Centre to implement “as soon as possible” interest waiver on loans of up to Rs 2 crore under the RBI moratorium scheme. …

Govt Waives Interest on Interest for Loans Up to Rs 2 Cr Even for Those Who Didn't Opt for Moratorium
4 years, 2 months ago

Govt Waives Interest on Interest for Loans Up to Rs 2 Cr Even for Those Who Didn't Opt for Moratorium

News 18  

New Delhi: In a relief to borrowers at the onset of the festive season, the government on late Friday night announced waiver of interest on interest for loans up to Rs 2 crore irrespective of whether moratorium was availed or not. The apex court on October 14 directed the Centre to implement "as soon as possible" interest waiver on loans …

RBI Accepts Recommendation For Separate Treatment of Aviation, Automotive, Roads Sectors
4 years, 2 months ago

RBI Accepts Recommendation For Separate Treatment of Aviation, Automotive, Roads Sectors

News 18  

Citing Kamath Committee recommendations, the Reserve Bank of India has informed the Supreme Court that it has accepted the recommendation for different treatment for sectors namely aviation, automobile manufacturing, roads and wholesale trading. Citing the September 7 special window notification, the RBI insisted that banks have sufficient flexibility to accommodate the impact of Covid-19 while specifying specific ratios for determining …

Moratorium extension not in borrowers\' interest: RBI tells SC
4 years, 2 months ago

Moratorium extension not in borrowers\' interest: RBI tells SC

Deccan Chronicle  

New Delhi: A loan moratorium exceeding six months might result in vitiating the overall credit discipline, which will have a debilitating impact on the process of credit creation in the economy, the Reserve Bank of India told the Supreme Court on Saturday. In its 17-page “consolidated affidavit” filed ahead of the hearing on Tuesday of the loan moratorium case, the …

Lockdown moratorium | Loans up to ₹2 crore may get relief
4 years, 3 months ago

Lockdown moratorium | Loans up to ₹2 crore may get relief

The Hindu  

The Centre has informed the Supreme Court that it will continue to “hand-hold” small and vulnerable borrowers and waive the compound interest accumulated against their loans during the six-month moratorium period. The government made it clear that “any individual or entity whose loan amount is more than ₹2 crore will not be eligible for waiver of compounding of interest”. The …

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme
4 years, 3 months ago

Banks Sanctions Rs 1.86 Lakh Cr to 50 Lakh MSMEs Under Credit Guarantee Scheme

News 18  

The Finance Ministry on Thursday said banks have sanctioned loans of about Rs 1.86 lakh crore to 50 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme for the MSME sector, impacted by slowdown due to the coronavirus pandemic. "As reported on 29.09.2020, by 12 Public Sector Banks, top 24 Private Sector Banks & 31 NBFCs, …

SBI loan restructuring: How interest will be calculated during moratorium extension period
4 years, 3 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 …

In a Relief to Borrowers, Supreme Court Extends Loan Moratorium Scheme till September 28
4 years, 4 months ago

In a Relief to Borrowers, Supreme Court Extends Loan Moratorium Scheme till September 28

News 18  

Continuing its interim order, the Supreme Court on Thursday extended loan repayment moratorium till September 28 that directed banks not to declare any loan as NPA due to non-payment of installments during the period. The apex court had earlier asked the Centre and the Reserve Bank of India to review the move to charge interest on EMIs during the moratorium …

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

Supreme Court Adjourns Hearing in Loan Moratorium Case Till September 10
4 years, 4 months ago

Supreme Court Adjourns Hearing in Loan Moratorium Case Till September 10

News 18  

The Supreme Court on Thursday provided some relief to stressed borrowers who are facing hardship due to impact of COVID-19 pandemic. The bench said that accounts which were not declared as non-performing assets till August 31 this year, shall not be declared NPA till further orders, and adjourned the next hearing in the loan moratorium matter until next week Thursday, …

Relief for borrowers in moratorium case
4 years, 4 months ago

Relief for borrowers in moratorium case

The Hindu  

The Supreme Court on Thursday directed banks that loan accounts on the clear till the expiry of the moratorium on August 31 should not be declared as non-performing assets till further orders. A Bench led by Justice Ashok Bhushan spelt relief for borrowers struggling to gain their feet amid a pandemic with its one-liner that “accounts which were not declared …

Loan moratorium: Banks shouldn’t declare accounts as NPAs till further order, says SC
4 years, 4 months ago

Loan moratorium: Banks shouldn’t declare accounts as NPAs till further order, says SC

Live Mint  

The Supreme Court of India on Thursday passed an interim order saying that the accounts not declared as non-performing asset as on 31 August shall not be declared as NPAs till further notice. The apex court on Thursday heard a batch of petitions seeking interest waiver on loan moratorium granted by Reserve Bank of India. While arguing whether banks should …

Loan moratorium over: You can still avail extension of two more years
4 years, 4 months ago

Loan moratorium over: You can still avail extension of two more years

Live Mint  

In view of the pandemic of Covid-19, the RBI had, vide a Circular dated 27 th March 2020, permitted the lenders to allow a moratorium for three months of EMI, falling due between 1 st March 2020 and 31 st May 2020, for various categories of loans. But the things became clear when the RBI circular of 6th August 2020 …

Banks Free to Restructure Loans, but Can't Penalise Borrowers Availing Moratorium Benefit, SC Told
4 years, 4 months ago

Banks Free to Restructure Loans, but Can't Penalise Borrowers Availing Moratorium Benefit, SC Told

News 18  

Banks are free to restructure loans but they cannot penalise honest borrowers by charging interest on deferred EMI payments under the moratorium scheme during the COVID-19 pandemic, a petitioner opposing the move said in the Supreme Court on Wednesday. A bench headed by Justice Ashok Bhushan, which commenced final hearing on a batch of pleas raising the issue of interest …

Loan moratorium can be extended by 2 years: Govt
4 years, 4 months ago

Loan moratorium can be extended by 2 years: Govt

Live Mint  

The moratorium for repayment of loans can be extended by up to two years, according to a 6 August circular by the Reserve Bank of India, solicitor general Tushar Mehta told the Supreme Court on Tuesday. The central government also apprised the bench that it has filed an affidavit stating that the National Disaster Management Authority has taken cognizance of …

Interest waiver on EMIs during moratorium against basic canon of finance: Centre
4 years, 4 months ago

Interest waiver on EMIs during moratorium against basic canon of finance: Centre

Live Mint  

Waiver of interest on deferred EMIs during the moratorium period would be against “the basic canons of finance” and unfair to those who repaid loans as per schedule, the Centre told the Supreme Court on Tuesday. The government said any “post facto” change in the terms of the RBI circulars with regard to non-charging of interest during the moratorium period …

Most companies that availed loan moratoriums were facing challenges before COVID-19: Crisil
4 years, 4 months ago

Most companies that availed loan moratoriums were facing challenges before COVID-19: Crisil

India TV News  

Most companies that availed loan moratoriums have sub-investment grade ratings and were facing challenges before the onset of the pandemic itself due to slowing economic growth, domestic ratings agency Crisil said on Monday. In a report released on the last day of the moratorium, the agency said it analysed 2,300 non-financial sector companies which have taken recourse to non-payment of …

RBI May Not Extend Moratorium on Repayment of Loans Beyond August 31
4 years, 4 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 …

Finance Ministry Working with RBI on Need for Loan Restructuring, Says FM Nirmala Sitharaman
4 years, 5 months ago

Finance Ministry Working with RBI on Need for Loan Restructuring, Says FM Nirmala Sitharaman

News 18  

Finance Minister Nirmala Sitharaman on Friday said the government is working with the RBI on need for restructuring of loans to help industry tide over the impact of COVID-19. In principle, the idea that there may be a restructuring required, is well taken," Sitharaman said while addressing Ficci's National Executive Committee Meeting. Sitharaman said the Finance Ministry is working with …

State-run lenders have at least ₹7.9 tn loans under moratorium
4 years, 6 months ago

State-run lenders have at least ₹7.9 tn loans under moratorium

Live Mint  

India’s five largest state-run banks collectively have at least ₹7.9 trillion of loans under moratorium, including loans that were stressed even before the coronavirus outbreak, regulatory filings showed. Different banks are using different methods to calculate the moratorium amount and there is a lack of coherence at the moment,” said Asutosh Mishra, head of research, institutional equity, Ashika Stock Broking. …

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme
4 years, 6 months ago

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme

Live Mint  

State-owned lenders have sanctioned loans worth ₹40,416 crore under the emergency credit line guarantee scheme, out of which, 52% of the credit has already been disbursed, as of June 18, the finance ministry said. “As of 18 June 2020, PSBs have sanctioned loans worth ₹40,416 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which ₹21,028.55 crore has …

No benefit from RBI’s loan moratorium scheme, says Supreme Court
4 years, 6 months ago

No benefit from RBI’s loan moratorium scheme, says Supreme Court

The Hindu  

The Supreme Court on Wednesday said there were few takers for the Reserve Bank of India’s loan moratorium scheme during the lockdown because people know there was hardly any benefit arising out of it. Appearing before a Bench led by Justice Ashok Bhushan, Solicitor-General Tushar Mehta, who had met Finance Ministry and RBI officials, explained that the moratorium during a …

SC directs Centre and RBI to review loan moratorium scheme
4 years, 6 months ago

SC directs Centre and RBI to review loan moratorium scheme

Live Mint  

NEW DELHI: The Supreme Court on Wednesday directed the Centre and Reserve Bank of India to review the moratorium scheme on term loans and create tailored schemes for various sectors, including agriculture. The central bank had on 22 May extended moratorium on term loans till 31 August amid the nationwide lockdown due to covid-19. In March, the central bank had …

Loan interest can’t be waived, SBI tells SC
4 years, 6 months ago

Loan interest can’t be waived, SBI tells SC

Live Mint  

Banks are of the view that interest on loans cannot be waived for the six months of the repayment moratorium allowed by the central bank, State Bank of India told the Supreme Court on Friday. SBI’s statement came in an intervention application it filed on Friday in a plea seeking a waiver on interest charges during the course of the …

SC defers case seeking clarification on eligibility of NBFC for loan moratorium
4 years, 7 months ago

SC defers case seeking clarification on eligibility of NBFC for loan moratorium

Live Mint  

The Supreme Court on Tuesday deferred hearing the plea seeking clarification on the eligibility of the Non Banking Financial Company for loan moratorium scheme announced by RBI in March which granted three-month loan moratorium from paying EMIs and other loans amidst the nationwide lockdown due to covid-19. The central bank had on 22 May extended moratorium on term loans till …

Waiver Of Interest On Loans During Moratorium Affects Stability Of Financial Institutions, RBI Tells SC
4 years, 7 months ago

Waiver Of Interest On Loans During Moratorium Affects Stability Of Financial Institutions, RBI Tells SC

Live Law  

The Reserve Bank of India has filed its counter affidavit stating that a waiving off interest on term loan repayments during moratorium would not be prudent as it would hit the health of banks & risk their financial stability.On May 26, the Top Court had sought a response from the RBI in a plea regarding the levy of interest on …

Moratorium will hurt NBFC balance sheets: experts
4 years, 7 months ago

Moratorium will hurt NBFC balance sheets: experts

Live Mint  

The six-month moratorium on loan repayments will hurt the balance sheets of Indian non-bank financiers, as most borrowers availed the scheme, but the lenders were denied the benefit by banks, said industry experts. Speaking via videoconference at CII’s Annual Session 2020 on Tuesday, the experts said while the moratorium will help borrowers, it was not the most effective solution to …

'Levy Of Interest During Moratorium Takes Away Benefit' : Plea In SC Challenges May 22 Circular Of RBI [Read Petition]
4 years, 7 months ago

'Levy Of Interest During Moratorium Takes Away Benefit' : Plea In SC Challenges May 22 Circular Of RBI [Read Petition]

Live Law  

The Maharashtra Chambers of Housing Industry – Thane Unit has approached the Supreme Court of India vide a Writ Petition under Article 32 of the Constitution of India challenging the decision of the Reserve Bank of India to allow levy interest during the 6-month moratorium period announced in the wake of COVID-19 lockdown.The MCHI – Thane Unit is an association …

Coronavirus Lockdown: SC issues notice to Centre, RBI on plea against interest on loans during moratorium
4 years, 7 months ago

Coronavirus Lockdown: SC issues notice to Centre, RBI on plea against interest on loans during moratorium

Firstpost  

The Supreme Court Tuesday asked the Centre and the RBI to respond to a plea challenging levy of interest on loans during the moratorium period, which has now been extended by another three months till August 31 due to the coronavirus pandemic New Delhi: The Supreme Court Tuesday asked the Centre and the RBI to respond to a plea challenging …

Loan moratorium: Supreme Court directive to Centre, RBI
4 years, 7 months ago

Loan moratorium: Supreme Court directive to Centre, RBI

The Hindu  

The Supreme Court on Tuesday directed the Central government and the Reserve Bank of India to file their formal response to a petition challenging the charging interest rate on loans even during the three-month moratorium declared amid the COVID-19 pandemic and national lockdown. The petitioner, Gajendra Sharma, said though there was a moratorium on loans, there is also accrual of …

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others
4 years, 7 months ago

Bank of Maharashtra sanctions Rs 2,789 cr loans to MSMEs, others

India TV News  

State-owned Bank of Maharashtra on Sunday said it has sanctioned loans worth Rs 2,789 crore to MSME, self-help group, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis over the last three months. "We have sanctioned loans amounting to Rs 2,789 crore under agriculture, SHGs, Retail, MSMEs with almost one lakh beneficiaries between …

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme
4 years, 7 months ago

Bank of Baroda to offer up to Rs 12 thousand crore loans to MSMEs under credit guarantee scheme

India TV News  

State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme announced by the government. Last week, Finance Minister Nirmala Sitharaman had announced a 100 per cent credit guarantee scheme worth Rs 3 lakh crore to support the medium, small and …

Loan moratorium extension will take care of cash-flow disruptions: SBI chief
4 years, 7 months ago

Loan moratorium extension will take care of cash-flow disruptions: SBI chief

Live Mint  

The Reserve Bank of India’s extension on Friday of the ongoing loan moratorium by another three months will take care of cash-flow disruptions for borrowers despite the absence of a one-time debt recast relief, said Rajnish Kumar, chairman, State Bank of India. “Our tendency has become that whatever has been given, just take it and ignore it and then start …

About 20% SBI borrowers avail loan repayment moratorium; banks can go for debt recast: Chairman Rajnish Kumar
4 years, 7 months ago

About 20% SBI borrowers avail loan repayment moratorium; banks can go for debt recast: Chairman Rajnish Kumar

Firstpost  

The SBI chairman advised borrowers to pay their loans if they are not facing any funding challenge. Mumbai: State Bank of India chairman Rajnish Kumar on Friday said close to 20 percent of the bank’s borrowers have availed moratorium on repayment of term loans instalments. On 27 March, the central bank had announced a three-month moratorium on payment of all …

RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August
4 years, 7 months ago

RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August

Firstpost  

Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis Mumbai: Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed …

Major Relief For Borrowers! RBI Extends Loan Moratorium By Another Three Months
4 years, 7 months ago

Major Relief For Borrowers! RBI Extends Loan Moratorium By Another Three Months

ABP News  

New Delhi: The RBI announced an extension of loan moratorium by another three months to ease financial stress. The governor Shaktikanta Das held a press conference today and announced a slew of measures in order to control the economic loss of the country caused due to the pandemic and the lockdown. “ In view of the extension of lockdown and …

RBI extends loan repayment moratorium by 3 months
4 years, 7 months ago

RBI extends loan repayment moratorium by 3 months

The Hindu  

The Reserve Bank of India has extended the repayment moratorium of loan repayment for term loans by another three months, till August 31. “In view of the extension of the lockdown and continuing disruptions on account of COVID-19, it has been decided to permit lending institutions to extend the moratorium on term loan instalments by another three months, i.e., from …

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