Instructions given for restructuring the loans of entrepreneurs for two years
The second wave of corona is once again going on across the country, due to which the business industry has once again closed. In such a situation, the Reserve Bank of India has announced to help the entrepreneurs that a moratorium was issued for 6 months in the first wave due to Corona. In the second wave also, banks have been instructed to facilitate restructuring for 2 years for loans up to 25 crores in personal and business loans of entrepreneurs. Apart from this, keeping small traders doing small business in the priority sector, instructions have been given to all small institutes to give them loans.
If the payment of up to 25 crores is left, they can get the benefit
Scheme for small and middle class entrepreneurs also
Like self-reliant loans, priority will be given to loans given to small and medium businessmen. Micro and Small Finance Institutes have been directed to give loans to such entrepreneurs for one year. Dr. Jatin Nayak, knowledgeable of banks, told that at present there is some confusion about NPA in the last many cases, the SME sector should get the benefit of loan. Therefore, the government has asked their account not to be NPA. For this reason, banks will have to make a provision of 10% of the profit against the total amount on loan restructuring. This rule can increase the problem of banks