SBI Customer good news here: No need to pay loan for 12 month
The State Bank of India (SBI) has announced that it is offering to extend relief on loans to its customers in Manipur, who have been affected by the on-going unrest in the state. SBI Customer good news here: No need to pay loan for 12 month.
The public sector lender said it understands the challenges that individuals and businesses are facing in Manipur at this time, and the relief package is aimed at providing them with much-needed support. The package will be implemented based on an assessment date of May 4, 2023.
The relief package includes a moratorium of up to 12 months on equated monthly instalments (EMIs), interest payments, and other instalments. It will be available to borrowers whose accounts had not turned non-performing assets (NPAs) as on May 3, 2023, a SBI Manipur regional office notice said.
Borrowers seeking to benefit from this assistance should visit their respective home branches or any nearby SBI branch by August 31, 2023, said the SBI announcement, the news agency reported. The SBI said it understands the challenges that individuals and businesses are facing in Manipur at this time and the relief package is aimed at providing them with much-needed support.
“The SBI’s relief package is a welcome move for borrowers in Manipur who have been affected by the unrest. The moratorium on EMIs and interest payments will provide them with much-needed breathing space, and help them to manage their finances as normal life and economic activities have taken a setback,” an official said, as per the report.
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