SBI To Get Rs 973 Crore From Centre For Compensation Cost To Debtors – NDTV Revenue


SBI was made a nodal company for reimbursement of claims.
The authorities on Wednesday accepted sanction of Rs 973.74 crore to State Financial institution of India (SBI) as reimbursement associated to mortgage moratorium that was applied in 2020 amid the pandemic.
Briefing media on the Cupboard resolution, Info and Broadcasting Minister Anurag Singh Thakur mentioned the Finances had made provision of Rs 5,500 crore for the scheme of compensation fee of distinction between compound curiosity and easy curiosity for six months to debtors in specified mortgage accounts.
Of this, Rs 4,626 crore fee was made in 2020-21, he mentioned, including, a further declare of Rs 1,846 crore is pending.
To clear this, he mentioned, the Union Cupboard has accepted sanction of remaining Rs 973.74 crore to SBI in direction of fee of those dues.
On March 27, 2020, RBI introduced a mortgage moratorium on fee of instalments of time period loans falling due between March 1 and Could 31, 2020, as a result of pandemic. Later, the identical was prolonged to August 31.
Monetary and non-banking monetary establishments have been requested to credit score the distinction between compound and easy curiosity collected on loans of as much as Rs 2 crore throughout the moratorium scheme by November 30, 2020.

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The Ministry of Finance has mentioned that after crediting this quantity, lending establishments would declare reimbursement from the central authorities. SBI was made a nodal company for reimbursement of claims.
(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
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