SBI launching the web portal to showcase the restructuring framework
New Delhi: The State Bank of India will soon launch the new web portal for the website to showcase the Recently resolution framework announced by the Reserve Bank of India. This new application window will allow the borrower to reach the eligibility for recasting in two to three days, as sources said.
The restructured plans can be on the rescheduling of payments, conversion in the interest, or can the moratorium can be asses based on the income streams of the borrowers.
The SBI special Portal is ready to launch on September 15, 2020, mentioning all the government directives and important information related to the loan restructured process.
There are a few steps that have to fulfill by the borrowers by submitting the income details and documents to demonstrate how their living and debt services have been affected by the pandemic.
SBI is currently expecting the recasting of loans from the home loan borrowers because the retail borrows mostly consist of the salaried government employees and the pandemic did not hit them so hard in comparison to the other private sector people and who lost their jobs in this situation.
As of the resolution, the framework is only for the borrower accounts, but not more than 30 days as on March 1, 2020, and the resolution will not be invoked later the December 31, 2020, which must be implemented within 90 days from the invocation.
Read Also : Air Chief Marshal VR Chaudhari, CAS presented Presidential Awards to 51 IAF personnelNews Must Read
- NCL General Manager (Finance) D Sunil Kumar recommended for SECL Director (Finance)
- Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore
- Axis Bank Overtakes Kotak Mahindra Bank to Become India's Fourth Most Valued Lender
- LIC cuts stakes in major PSU stocks
- SJVN CMD Geeta Kapur Inaugurates Construction Works at Sunni Dam Project in Himachal Pradesh
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station