
SBI launches e-facility for restructuring of retail loans for borrowers affected by Covid-19 stress
Mumbai: The country's largest lender State Bank of India (SBI) on Monday said it has launched a facility on its website to help retail customers check their eligibility for one-time loan restructuring announced by the RBI. Last month, the Reserve Bank of India (RBI) had announced a one-time restructuring scheme for personal loan and corporate borrowers affected by COVID-19 stress. "We thought instead of people actually visiting our branches, we can provide this tool and they can initially check their eligibility," the bank's managing director (retail & digital banking) C S Setty told reporters. An eligible customer, however, will have to later visit the bank's branch for completion of other formalities such as signing of papers and others, he said. The bank's retail customer will be as...