The country’s largest lender State Bank of India (SBI) has said that it has launched a facility on its website to help retail customers check their eligibility for one-time loan restructuring announced by the RBI. Last month, the Reserve Bank of India (RBI) had announced a one-time restructuring scheme for personal loan and corporate borrowers affected by COVID-19 stress.
Are you eligible?
– The customers can check their eligibility for the restructuring of their loans through this portal sitting at their home/office or from anywhere as per their convenience and comfort.
– Under this resolution framework framed by RBI, such borrowers are eligible whose loan accounts were classified as standard and not default for equal to or more than 30 days as on March 1, 2020, and their incomes are impacted by COVID-19.
– The approval of borrowers loan restructuring application under this scheme –