The State Bank of India (SBI) has announced a relief package for borrowers in Manipur, in response to the ongoing unrest in the region. The package includes a moratorium of up to 12 months on equated monthly installments (EMIs), interest payments, and other installments.
Borrowers whose accounts have not become non-performing assets (NPAs) by May 3, 2023, are eligible for this relief. The relief will be implemented based on an assessment date of May 4, 2023. Borrowers who wish to avail of this assistance should visit their home branches or any nearby SBI branch by August 31, 2023.
The SBI acknowledges the challenges faced by individuals and businesses in Manipur and aims to provide them with much-needed support through this relief package. This move has been welcomed by borrowers in Manipur, as it will give them breathing space and help them manage their finances during these difficult times.
