Connect with us

Business

RBI gave relief, brought a new loan moratorium scheme, they will get benefited

Published

on

0 0
Read Time:1 Minute, 21 Second

In order to give big relief to small traders troubled by the second wave of Corona, RBI has made an important announcement. Rbi has announced that now a one-time loan restructuring plan has been reopened. The RBI gave individual, small borrowers with loans up to Rs 25 crore a second chance for loan restructuring. Businesses that had not taken advantage of this earlier can now take advantage of it.

RBI Governor Shaktikanta Das said that Resolution Framework 2.0 has been prepared to provide relief to small traders and MSMEs – which are currently under the most pressure. They also said that under this proposed framework an appeal for restructuring can be made by September 30 and it will have to be implemented within the next 90 days.

RBI gave relief, brought a new loan moratorium scheme, they will get benefited
Image Source – Google | Image By- The Indian Express

The RBI governor said that the second wave of Corona epidemic has created new uncertainties, in such an environment, the biggest impact is on small borrowers, small businesses and MSMEs.

He said, ‘Small borrowers and small businesses that had taken advantage of loan restructuring under Resolution Framework 1.0 (which had Moratorium exemption for a period of less than two years), now lending institutions are allowed to Now, under such schemes, you can take steps to increase the moratorium period or to increase the tenure for a total period of two years.

RBI gave relief, brought a new loan moratorium scheme, they will get benefited
Image Source – Google | Image By- Theprint

He also informed that RBI will make another purchase of Rs 35,000 crore on May 20 under the Government Securities Procurement Program (G-SAP 1.0) to increase the flow of financial resources in the economy.

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Continue Reading
Click to comment

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published. Required fields are marked *