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How to apply for loan restructuring in State Bank of India

The Reserve Bank of India has accepted the suggestions of the KV Kamat Committee to do the loan restructuring. After this, State Bank of India, the country’s largest government bank, is soon to launch a digital platform to facilitate loan restructuring to its customers. The same platform will decide which customer will get the SBI Loan Moratorium for how many days. It is expected that this platform will be launched in the last week of this month. It is also speculated that it can be launched on September 24. So let’s know how the customers of State Bank of India will be able to apply for restructuring their loan.

The duration of Moratorium will be decided like this

After thorough analysis of the source of income of the customer, the bank will find out how many days Moratorium facility should be given to a customer. According to the guidelines of the Reserve Bank of India, the facility of moratorium will be provided to the borrowers from 6 months to 2 years. Who will get this facility for 6 months and for more days, it will be known after analysis.

Did Rajneesh Kumar speak?

State Bank of India Chairman Rajnish Kumar said- ‘We have about 30 lakh home loan customers. If anyone wants to check their eligibility for Moratorium, then the entire process will be done through the system in an automated manner, with no human intervention. The system will calculate the customer’s current income and future income and based on that, it will be decided how many days Moratorium facility will be given to that person. It can be launched from 22 to 24 September.

90 lakh customers would like to take advantage of this facility

90-

As of June, moratorium facility is currently being provided on about 10% of the bank’s loan and Rajnish Kumar believes that more people will not apply for loan restructuring. But experts believe that about 9 million people would like to take advantage of this facility. Let us know that any corporate or MSME who want to avail loan restructuring will have to go to any branch of the bank, they will not be able to avail this facility online.

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