RBI Says Loan Moratorium For Small Borrowers – See Who Qualifies

 

RBI Says Loan Moratorium For Small Borrowers – See Who Qualifies



Resurgence of COVID and associated containment measures have created new uncertainties and impacted nascent economic revival that was taking shape.

The Reserve Bank of India re-opened its one-time loan restructuring plan for individuals and small businesses affected by the state-wise lockdowns amid the second wave of coronavirus pandemic that has hit India badly. Individuals, small business and micro, small and medium enterprises (MSMEs) having exposure of up to ₹ 25 crore, who did not avail restructuring earlier and where loans were classified as standard as on March 31, 2021 will be eligible for loan restructuring in the second round.

Restructuring under the proposed framework may be invoked up to up September 30 and shall have to be implemented within 90 days thereafter, Mr Das said.

“Resurgence of Covid-19 pandemic in India in recent weeks and the associated containment measures adopted at local and regional levels have created new uncertainties and impacted the nascent economic revival that was taking shape. In this environment, the most vulnerable category of borrowers are individual borrowers, small businesses and MSMSEs,” RBI Governor Shaktikanta Das said in a speech.

With respect to individual borrowers and small businesses who availed restructuring of their loans under the Resolution Framework 1.0, where the resolution plan permitted moratorium of less than two years, lending institutions are being permitted to use this window to modify such plans to the extent of increasing the period of moratorium or extending the tenure up to a total of two years, Mr Das added.

In a separate development, the RBI Governor said the central bank will provide a term-liquidity facility of ₹ 50,000 crore to ease access of funds for emergency medical services.

Shaktikanta Das expressed faith in India’s ability to come out of Covid-19 crisis and added that RBI continues to monitor the situation closely. India has already crossed the 2-crore mark in total Covid infections caseload, which is the second highest globally — just behind the United States and ahead of Brazil. India is fighting a ferocious rise in coronavirus cases and we have to marshall all our resources with renewed vigour, the Governor emphasized.



Comments

  1. UnknownMay 25, 2021 at 3:41 AM

    Give loan funds

    ReplyDelete
  2. UnknownMay 25, 2021 at 4:42 AM

    Many Bank An Finance Co. Not Follow RBI This RULES.

    ReplyDelete
  3. UnknownMay 25, 2021 at 4:51 AM

    Sir RBI Says loan moratorium can I convert my od account to term loan or flexible loan

    ReplyDelete
  4. UnknownMay 25, 2021 at 6:58 AM

    Many private sector banks are not giving second time loan maritorium. DCB bank are not respond

    ReplyDelete
  5. UnknownMay 25, 2021 at 7:59 AM

    we need moratorium , it will be more helpful

    ReplyDelete
  6. UnknownMay 25, 2021 at 9:16 AM

    To
    Respected RBI Governor

    Sir,
    Even the pensioners may be excused for two years in paying the loan debts. It will be helpful for the family to run the life in this crisis period.
    Thanking you.

    ReplyDelete
  7. UnknownMay 25, 2021 at 9:17 AM

    To
    Respected RBI Governor

    Sir,
    Even the pensioners may be excused for two years in paying the loan debts. It will be helpful for the family to run the life in this crisis period.
    Thanking you.

    ReplyDelete
  8. UnknownMay 25, 2021 at 9:17 AM

    To
    Respected RBI Governor

    Sir,
    Even the pensioners may be excused for two years in paying the loan debts. It will be helpful for the family to run the life in this crisis period.
    Thanking you.

    ReplyDelete
  9. UnknownMay 26, 2021 at 12:27 AM

    I have need emergency a loan

    ReplyDelete
  10. sabarikanthMay 27, 2021 at 5:24 AM

    That is good but MSME also should be offered concessions in Banks in getting bank loan like CIBIL statements , based on order

    ReplyDelete
  11. sabarikanthMay 27, 2021 at 5:24 AM

    That is good but MSME also should be offered concessions in Banks in getting bank loan like CIBIL statements , based on order

    ReplyDelete
  12. UnknownJune 16, 2021 at 10:13 PM

    సార్, నమస్కారం, మీరు ప్రైవేట్ బ్యాంకర్స్ వాళ్ళు నూ మైక్రో ఫైనాన్స్ ముసుగులో వడ్డిరేట్లు ఎక్కువ గా వేస్తున్నారు. అలాగే ప్రైవేట్ లో పనిచేసే వాళ్ళు కూ జీతాలు కరెక్ట్ టైమ్ కూ రావడం లేదు. వీళ్ళు ప్రతి నెల loan cut of date 1 2 3 4 డేట్లు పెట్టారు. మీరు దయచేసి మా లాంటి చిరుద్యోగులుకు loan cut of date 10వ తారీకు వరకు పొడిగించగలరు అని వేడుకొనుచున్నాను.

    ReplyDelete
    Replies
    1. UnknownJune 30, 2021 at 7:42 PM

      I have taken loans from IDBI Bank also cc limits from them,but there are not any positive response from bank

      Delete
  13. UnknownJune 30, 2021 at 11:37 PM

    Give loan funds and reduce the rate of interest on loan

    ReplyDelete
  14. PrasadJuly 1, 2021 at 2:26 AM

    How to apply for this scheme ..? since last year, 20 lakhs loss in my business

    ReplyDelete
  15. UnknownJuly 1, 2021 at 6:20 AM

    Bankers are not interested to give business loans to new ones;what can I do?

    ReplyDelete
  16. UnknownJuly 2, 2021 at 12:35 AM

    How can I avail monitoring

    ReplyDelete
  17. UnknownJuly 2, 2021 at 2:01 AM

    How to apply for this? And what about the extra interest we are paying after taking moratorium last year? This is really sad that we pay extra money after availing moratorium. Please increase the tenure and not the interest

    ReplyDelete
  18. dinganJuly 6, 2021 at 2:28 AM

    Sir do we have any moratorium extension for foreign educational loans.

    ReplyDelete
  19. sayed vajithJuly 7, 2021 at 12:08 PM

    Good morning sir
    I have garment I need loan I try to loan many time with sbi. loan manager every time asking after one month. More bank Can't respect public. Time pass with mobile playing game and watch videos

    ReplyDelete

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more