Loan moratorium latest news | Instant personal Loan moratorium: You all know that the second wave of the corona epidemic is going on and all loan holders are in need of a loan moratorium during this time, due to not paying their instalments on time,
Because of the loan taken from the bank, then how will you pay your loan EMI and here I am going to give you information about the moratorium, how you can apply for the second moratorium in this corona time, This will be the relief to pay the second instalment:
If you have taken a loan from the bank, then know how you will get help from the new Moratorium, tell you that you will have to apply by September 30.
For information, let me tell you that the Reserve Bank of India has given time till 30 September 2021 to the borrowers so that they can contact the bank for restructuring their loan, once you apply for a new moratorium, In such a situation, the bank will have to implement it within 90 days if all the conditions are met.
1. It is up to the banks for loan moratorium whether they will give it to you or not and how they will give it.
2. You do not have the right to get a moratorium on the loan, it depends on the banks as a convenience of the bank.
3. Like last time, there was a lot of fight between banks, government and customers till the Supreme Court regarding Moratorium.
As everyone knows that in the second wave of Corona, once again, the Reserve Bank has talked about giving relief suddenly and is shocked by bringing the package in relief. In such a situation, in this relief package, the Governor of Reserve Bank of India Shaktikanta Das has asked banks to start the facility of a moratorium on it and to give benefits to the people, although this is also above the banks. It will depend on whether they will give you the benefit of it or not and even if they will give it, it is also up to them. Now let me tell you how you will be able to get help with this Moratorium.
As everyone knows, the RBI announced for the first time a loan moratorium of nearly 2 years to overcome the lockdown across the country due to this epidemic corona and the problems caused by it.
Feature: Highlights of the Moratorium
Let me tell you for the information that those people who have not applied for the Moratorium before or had not been able to take advantage of it earlier in the Moratorium, then now will be able to take advantage of this offer in this second blacksmith. You will be able to extend the period of your earlier moratorium.
Now, who will get this benefit?
You will find individuals and small businesses of Bat Du and MSMEs with a total exposure of up to Rs 25 crore, who have not been able to benefit from the earlier restructuring. So those who were classified as standard loans by March 31, 2021, and may be eligible for this under Resolution Framework 2.0.
Had I taken the loan moratorium for the first time, I would have benefited in such a situation?
Yes, of course, those who have been able to take advantage of this for the first time, then they will also be given the benefit. Those who have not availed of Moratorium since the beginning of last year will also be able to take advantage of it. As you know, the last time Moratorium was given for 2 years.
Many people did not take the moratorium for the first time
Many individual borrowers have not opted for this loan for the first time. Now that they are facing difficulties in repaying their debts, any default on loan repayment not only increases expenses in terms of interest and penalty but also negatively affects one's credit history. In the future, you may face problems with the loan, which reduces future credit. (future creditworthiness).
The time had ended in December 2020 itself
Since the time to apply for the previous loan moratorium expired in December 2020, these borrowers had no option to avail of that moratorium. It has been announced by the Reserve Bank that they will get a big relief from the new Moratorium, as those who have taken loan can now take advantage of the second Moratorium.
If I defaulted on filling the loan, will I benefit?
No. You should note that to take advantage of the new Moratorium, you will get the benefit only if you have not defaulted in repaying the loan till 31 March 2021. So in the earlier loan moratorium in Phase 1, you were allowed to opt for a 3-month moratorium from March 1, 2020, to May 30, 2020. As you know, it was later increased from 3 months to 31 August 2020.
The time was extended for 2 years.
As you know, the Reserve Bank had extended the Moratorium for 2 years under restructuring. In such a case, if you have opted for Moratorium in 2020, then you may have to get a new Moratorium, under which your remaining period can be extended to 2 years.
If the bank wants, it can extend the time
Let me tell you who have taken advantage of restructuring of their loan, under Resolution Framework 1.0, as well as where a moratorium of fewer than two years has been allowed in the resolution plan, where the bank has to extend the moratorium period and/or survive Permission is being given to using this window to revise such schemes till the period has been extended to a total of 2 years. Whereas all other conditions will be the same as before.
Last date to apply for a new loan moratorium
The Reserve Bank of India has given the borrowers up to September 30, 2021, for loan moratorium so that they can approach the bank for restructuring of their loan and once you apply for a new moratorium, the bank will get all It will have to be implemented within 90 days if the conditions are met.
There are loan applications that are giving loans during their current list.
See also
*If you want to download an e-Aadhaar card online then click here to know how to download your Aadhaar card online Click Here
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*If you want to take a loan with an Aadhaar card, then click here
*If you want to take a loan with an Aadhaar card and PAN card, then click here
*If you want to take an instant loan, then click here
*If you want to take a loan through the smartphone application, click .
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