Monday, October 5, 2015

RELIEF MEASURES BY BANKS IN AREAS AFFECTED BY NATURAL CALAMITIES

It has been decided to allow SLBC/ DLCC/ Banks to take a view on rescheduling of loans if the crop loss is 33% or more. 
Maximum period upto 2 years (including the moratorium of 1 year) if the loss is between 33% and 50%. 
If the loss is 50% or more, the restructured period for repayment may be extended to a maximum of 5 years (including the moratorium period of one year). 

Based on RBI Circular dt 16/07/15. Please visit www.rbi.org.in for any further clarification if required…..          Poppy