Now, it seems that the moratorium period is not likely to be extended beyond August 31, 2020. Hence, RBI is offering the new one time debt resolution framework, but final call will be taken by Apex Court . RBI given the permission to lenders to restructure their loans. Under the scheme, an individual can get his loan restructured to avail a further moratorium of two years.
Who is take benefit for the debt solutions:
- Directly affected from the covid-19.
- The Loan should not be overdue for more than 30 days on 01-MAR- 2020.
Option for borrowers
- Contact the bank-branch, if face serious financial difficulties.
- Or wait the Supreme Court hearing on 28-09-2020.
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