Bankers committee in Coimbatore seeks approval for restructuring of loans

Published - May 22, 2024 08:22 pm IST - COIMBATORE

The Coimbatore district-level bankers’ committee has appealed to the State-level bankers committee to restructure bank loans as per Reserve Bank of India norms for all those affected in the district because of drought.

This was one of the resolutions passed at a meeting of the district-level bankers committee chaired by Collector Kranthi Kumar Pati on Tuesday.

The district suffered from poor rainfall for almost a year and both, agriculture and MSME sector are hit. Hence, there have been appeals from those affected for restructuring of loans. The issue was discussed at the meeting and it was resolved to appeal to the State-level committee for the same.

If approved, all loans except retail loans will benefit, an official said.

According to an official press release, students can apply for education loans for higher education and special camps will be conducted after the election results are announced.

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