All EMIs on term loans automatically suspended for 3 months, clarifies SBI chief Rajnish Kumar

All EMIs on term loans automatically suspended for 3 months, clarifies SBI chief Rajnish Kumar

All equated monthly installments (EMIs) on term loans will automatically be suspended for three months, clarified Rajnish Kumar, Chairman of State Bank of India (SBI).This clarification came after the Reserve Bank of India (RBI) announced 3-month moratorium on all loans in order to give relief to depositors amid the ongoing coronavirus lockdown.“Installments will get automatically…

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PSBs to lengthen loans so companies can continue ops and pay salaries

SBI’s credit line is up to ₹200 crore, Indian Bank’s credit line is up to ₹100 crore, while that of Union Bank is up to ₹50 crore. (Photo: Mint) 3 min read . Updated: 26 Mar 2020, 12:02 AM IST Shayan Ghosh Banks are relaxing repayment terms for these loans to help customers tide over…

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