Indian Bank has launched a facility on its website for its personal loan borrowers to submit the requests for restructuring of their loans under the Reserve Bank of India's (RBI) one-time loan recast norms. In August this year, the RBI had announced a one-time restructuring scheme for personal loan and corporate borrowers affected by COVID-19 stress.
The requests for restructuring from retail borrowers are registered with a unique reference number. The lender will inform customers through SMS to visit their respective branches with required documents for completion of restructuring process. Retail borrowers who have not applied online can also visit their branch along with the required documents for considering the restructuring of their personal loan accounts.
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.
| Company Name | CMP |
|---|---|
| SBI | 1080.35 |
| PNB | 114.50 |
| Canara Bank | 142.35 |
| Bank Of Baroda | 280.00 |
| Union Bank Of India | 188.90 |
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