InvestorQ : What was RBI’s decision to help salaried individuals?
Gayatri Surendran made post

What was RBI’s decision to help salaried individuals?

Priyanka Singh answered.
2 years ago
The Reserve Bank of India, with a view to mitigating risks to financial stability, has permitted banks to go for the one-time restructuring of loans that are facing stress due to the COVID-19 crisis. Under this one-time restructuring, customers may get some relief on repayment of their personal loan, home loan, car loan, education loan, loan against securities, gold loan, etc. if one has suffered any job loss, any loss in business or cases where sources of income for the person has dried up.

RBI has decided to provide a window to enable the lenders to implement a resolution plan in respect of eligible borrowers without making any significant change in their ownership. This shall be a huge relief for the salaried and other individuals who have been financially sacked due to this pandemic.