Business

J and K Bank to implement RBI guidelines on term loan moratorium

The Jammu and Kashmir Bank, which has the largest number of branches in J&K and Ladakh union territories, has decided to fully implement the RBI guidelines seeking a three-month long moratorium on term loans.

migrator

Published:27th Mar, 2020 at 4:15 PM

Srinagar

R. K. Chhibber, Chairman of the Bank has called the RBI guideline as a major relief to bank's borrowers during the tough times the country is presently passing through because of COVID-19 pandemic.

As per the RBI guidelines repayment of all the term loans will be extended by three months. The RBI directive also permits house finance companies and other financial institutions to extend this facility to their borrowers.

The traders in Jammu and Srinagar welcomed the decision terming it as the 'need of the hour'.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

J and K Bank to implement RBI guidelines on term loan moratorium

The Jammu and Kashmir Bank, which has the largest number of branches in J&amp;K and Ladakh union territories, has decided to fully implement the RBI guidelines seeking a three-month long moratorium on term loans.

Also Read

Situation tense in Bangladesh after unrest over uprising leader’s death

Woman shooter raped at Faridabad hotel, 3 arrested

Railways to release reservation charts 10 hours before train departure

DMK alliance calls for protests against Centre's replacement of MGNREGA on Dec 24

Actress assault case: 2 convicts move Kerala HC against conviction, 20 yr sentence

The Jammu and Kashmir Bank, which has the largest number of branches in J&K and Ladakh union territories, has decided to fully implement the RBI guidelines seeking a three-month long moratorium on term loans.