Indian Bank Launches Personal Loan Restructuring E-Facility

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The state-run Indian Bank announced Thursday that it has launched a facility on its website that allows its personal loan borrowers to submit requests to restructure their loans in accordance with the Reserve Bank’s unique loan overhaul standards. of India.

In August of this year, the RBI announced a one-time restructuring plan for personal loans and corporate borrowers affected by stress from COVID-19.

The bank said restructuring requests from retail borrowers should be registered with a unique reference number.

The lender will notify customers via text message to visit their respective branches with the documents required for the completion of the restructuring process, the statement said.

Retail borrowers who haven’t applied online can also come to their branch with the required documents to consider restructuring their personal loan accounts, the lender said.

Last month, the State Bank of India (SBI) launched a feature on its website to help retail clients verify their eligibility for a one-time loan restructuring.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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