Restructuring of Loan

Restructuring of Loan

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.