The Cabinet on Wednesday approved amendment to DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of bank failure.
Accordingly, HDFC Securities, expects banks to remain selective in restructuring stressed assets.
SC last month ruled that no penal or compound interest would be charged on any loans, including those above Rs 2 crore, during the six-month moratorium announced by govt against Covid backdrop.
The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020.
Banks have started depositing the interest amount charged on interest on loans and credit card EMIs during the moratorium period.
The moratorium was announced by the Reserve Bank of India in March as part of measures to mitigate economic hardships caused by the coronavirus-induced lockdown in the country.
In a notification, RBI said: "All lending institutions are advised to be guided by the provisions of the Scheme and take necessary action within the stipulated timeline."
After State Bank of India (SBI), HDFC Bank has stipulated a minimum outstanding balance of Rs 25,000 to consider the credit card or loan outstanding for restructuring under the scheme approved by the Reserve Bank of India (RBI).
The Supreme Court on Thursday asked the Reserve Bank of India (RBI) to ensure a 3-month loan moratorium policy during the COVID-19 lockdown period is implemented by the banks in "letter and spirit."
The Reserve Bank of India's three-month suspension of EMIs could provide a liquidity breather of Rs 2.10 lakh crore if all corporates avail it, says a report.
The Reserve Bank of India''s directive asking banks to make 10 per cent provisions on all moratorium loans will shave at least Rs 35,000 crore off their profitability in financial years 2019-20 and 2020-21, according to a report.
Securitisation of loans by troubled non-bank lenders has led to one crore eligible retail borrowers being deprived of the three-month loan repayment moratorium, a report said on Saturday. Securitisation refers to the pooling of assets by a lender which originates the loans and passing it off to investors such as banks, mutual funds, insurers and high networth individuals against upfront payment on the folio.
Several banks have cautioned their customers against possible attempts by fraudsters as they became active to exploit the three-month loan repayment moratorium offer in the wake of the coronavirus outbreak, officials said on Friday.
HDFC Bank Alert: Largest private sector lender HDFC Bank on Thursday sent an alarm for its customers against a possible fraud over the three-month loan repayment moratorium. The bank has asked its users to be "extra cautious".
Banks like SBI, PNB, BOB, IDBI, Canara Bank, UCO bank, Syndicate Bank, Punjab & Sind Bank, Andhra Bank, Central Bank of India, HDFC Bank, ICICI bank…and many more tweeted about the details that the customer can follow by mentioning the in and out option. Some gave an email id as well where they have asked their customers to email the details of their installment/Loan account to the bank if they want to go for 3 months moratorium.
In an exclusive conversation, India TV Digital spoke to SBI Chairman Rajnish Kumar who explained at length on the moratorium rules. During the interview, Kumar advised people to pay their EMIs if they have the ability and cash flow, in order to avoid any additional cost.
HDFC Bank EMI, Credit Card Dues Moratorium: HDFC bank announced EMI and credit card moratorium to its customers in line with the Reserve Bank of India (RBI) guidelines that all lending institutions will have to give their borrowers a three-month moratorium on term loans in wake of the coronavirus outbreak hitting the economy hard.
SBI Loan Moratorium: State Bank of India (SBI), India's largest lender has good news for its customers, amid coronavirus crisis. SBI Bank has announced all its term loan borrowers a three-month moratorium for its customers under the terms of a COVID 19- RBI package announced on Friday. We bring to you complete details of SBI EMI moratorium.
The chief minister termed the ongoing sealing drive a "dangerous attack" on traders and said an all party-delegation, including his cabinet colleagues, would meet the Supreme Court-appointed monitoring committee to resolve the issue.
Kolkata, Jan 20: Stepping up pressure on the UPA government on her demand for a three year moratorium on paying interests on central loans, West Bengal Chief Minister Mamata Banerjee Saturday threatened to lead a
Top News
Latest News
