This facility has been started under the one-time restructuring permission on the retail loan of the Reserve Bank.
Mumbai: State Bank of India (SBI) has started the facility for restructuring of retail loans on its website. It is a two step process. This will help customers. They will be able to find out if they are eligible for restructuring.
This facility has been introduced under the one-time restructuring permission on the retail loan of the Reserve Bank. SBI said that customers can find out whether their loan account is eligible for restructuring by visiting its website.
The Reserve Bank last month announced a one-time loan restructuring facility to individual loan and corporate loan customers affected by the Kovid-19 pandemic.
SBI MD (Retail and Digital Banking) CS Shetty said, “We considered that customers do not have to come to the bank branch and they should find out on the website whether their loan can be restructured or not. ”
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However, after signing the eligible customer documents and other formalities will come over to the bank branch.
He told that retail loan customers will have to enter their account number in the respective segment on the bank’s website. After giving OTP verification and other necessary information, the customer will know whether they are eligible for this facility or not. The customer will be given a ‘reference number’, which will be valid for 30 days. During this period the customer has to go to the bank branch and complete the formalities.
Shetty said that 3,500 people have so far checked eligibility this month. Of these, about 3 percent have been found eligible for loan restructuring.
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