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This step is introduced by RBI where they allow one time loan restructuring for the stressed workers. This step is out because of the effect of COVID-19 in India to the peoples and the economy. As this is introduce for those who are affected by covid and stressed by their loan EMI. The borrowers who have already taken the loan and due to COVID-19 pandemic, their business gone done and can’t able to repay their loans, therefore – RBI announced on August 6, 2020 – a onetime change in the repayment EMI or interest terms by the lenders to their borrowers who have been seriously get hit by this pandemic.
This is the main reason to bring this scheme which will help the borrowers who are constantly dealing with the liquidity and EMI issues.
When a borrower is facing financial problems and the lender changes the terms of the credit as to
Read MoreChanging the number of instalments Changing the loan rescheduling repayment time period Lower
Read MoreThis scheme is only benefits for those who are doing or available in businesses or someone who are s
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