Aatmja Kumari(Intern Journalist): State Bank of India (SBI) said on Monday that it has launched an online portal for easy restructuring of retail loans. Restructuring of home loan, auto loan, etc. will be done easily through this portal. According to the bank’s statement, by visiting the new portal https://bank.sbi/ or https://sbi.co.in, customers can see immediately whether their loan can be restructured or not. For this, the customer only has to fill his income details.
Through the new portal, customers will also be able to request for their loan moratorium. The moratorium can be requested for 1-24 months. Requests can also be made to extend the loan period on this portal.
Significantly, the Reserve Bank of India (RBI) has allowed banks to offer loan restructuring options to their individual customers. Finance Minister Nirmala Sitharaman had asked banks to start a loan restructuring scheme by 15 September 2020.
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