State Bank Of India

The government has approved sanction of Rs 973.74 crore to State Bank of India (SBI) as reimbursement related to loan moratorium that was implemented in 2020 amid the pandemic. This amount is for the payment of claims submitted by lending institutions (LIs) under the scheme for grant of ex-gratia to borrowers in specified loan accounts during the moratorium period announced by RBI in March 2020.

SBI was given Rs 873.07 crore towards reimbursement of ex-gratia between July 23 and September 22, 2021. To clear the remaining amount, the Union Cabinet has approved sanction of Rs 973.74 crore to SBI towards payment of these dues. Operational guidelines for the scheme are already issued with the approval of the Cabinet. The said amount of Rs 973.74 crore will be disbursed in accordance with the said operational guidelines.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.