Tripura News: Dy CM asks Small Finance Banks, MFIs to announce moratorium

Agartala, Jun 02, 2021, ENEWSTIME Desk

In the wake of Covid 2.0 Pandemic situation, Deputy Chief Minister Jishnu Dev Verma who also holds the Finance portfolio has on Wednesday asked the Small Finance Banks and Micro Finance Institutions to announce loan moratorium to their borrowers till August, 2021.


The Deputy Chief Minister said this while chairing a high-level meeting with the Bankers and Micro Finance Institutions to discuss the relief measures taken from their end to their borrowers in view of the prevailing COVID19 situation.


According to a press release, the Small Finance Banks and Micro Finance Institutions have committed that they would declare a loan moratorium up to August, 2021 after getting confirmation from their Board of Directors/Authority.


The Small Finance Banks and MFIs would inform the Finance (institutional Finance) department about their consent regarding moratorium within June 05 next while the scheduled commercial bank agreed to publish in newspaper the detail of their loan restructuring modality for the benefit of common citizens.


Meanwhile, the nationalized banks, Tripura Gramin Bank and Tripura State Co-operative Bank have already declared moratorium for their customers especially in case of MSME and other Priority Sector Loans up to September 2021. If the borrowers willingly repay the loan amount, they will collect it.


Secretary Finance Apurba Roy, Director, Institutional Finance- Dr. Vishal Kumar, AGM RBI Agartala- S.D.V Raghunath, DGM and Circle Head, PNB (SLBC Convener), Tripura Grain Bank chairman Mahendra Mohan Goswami, Regional Manager SBI (North and South), Zonal Manager UCO Bank, Chairman TGB, General Manager TSCB and Representatives of Small Finance Banks including Bandhan Bank, Ujjivan Small Finance Bank and MFIs participated in the meeting.