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Big relief from the RBI for loan holders, this relief found on non-payment of EMI

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Big relief from the RBI for loan holders, this relief found on non-payment of EMI



 If no account holder pays EMI for 180 days then it cannot be declared as default.  Borrowers are given an additional 90 days after the 3-month moratorium period so they can resume EMI.




  •  Reserve Bank of India great relief for the borrower
  •  The defaulter will not be announced for 180 days
  •  Extra 3 months time for regular EMI


 The Reserve Bank has today announced huge relief to borrowers.  RBI has recently changed the definition of loan defaulters.

 In his address, Governor Shaktikant Das said that the loan holders who have opted for the moratorium period will be given 90 days extra time after 3 months so that they can start EMI again.  During this time it will not be considered NPA.


 Everyone will get 180 days for the loan

 In other words, loans that were regular until February 29 and those who have opted for a three-month moratorium option in March will not be declared NPA for 180 days.  The bank will not declare the NPA even if EMI does not submit such loan till September.

 The borrower receives 180 days of concession

 The bank announces NPAs for loans whose EMI has not been paid in three months.  The bank reserves the right to initiate a recovery process when the loan NPA is declared.  In this case, people getting car loan and car loan are now given 180 days relief.

 Now the decision of the NPA will be made in these days

 Currently, banks have to deal with pressurized asset (NPA) cases in 210 days.  If they cannot dispose of it within the stipulated time, they will have to make an additional 20 percent provision for it.  Currently, banks have 30 days to review after default or default.  They will have to implement the settlement plan within 180 days if ANTI defaults.


 The focus of system liquidity and support for corporate

 Reacting to the RBI announcements, Mr. Jacques Parmar, Senior Equity Research Analyst at Angel Broking Limited, said that while giving some flexibility to the NPA, the Reserve Bank has taken care of system liquidity and support for corporates.  Banks and F.I.  For all accounts settled by, the 90-day rule excludes the Moratorium period.

 NBFCs are advertised separately

 This step will reduce the pressure on capital to some extent.  Liquidity support was a major cause for concern to the NBFC in the period following lockdown.  However, today the Reserve Bank announced several steps to improve the health of the NBFC.  Funds have been provided to NABARD, SIDBI and NHB to ensure funding to the NBFC / HFC.



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