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India Business News: NEW DELHI: To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to.
Taking cognisance of the prevailing situation, the RBI announced Resolution Framework 2.0 under which individuals and small businesses having exposure up to Rs 25 crore can opt for loan restructuring if they had not availed the earlier scheme
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The repayment tenure is 5 years and SBI would charge interest of 8.5% on annum. Other banks are free to decide their interest rate.
Read more about Covid-19: Banks begin process of restructuring of loans up to Rs 25 cr on Business Standard. To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to Rs 25 crore in line with the COVID-19 relief measures announced by the Reserve Bank earlier this month.Many