India Central Bank Sets Relief Norms for Calamities
The RBI launched a framework allowing banks to offer payment relief to borrowers hit by natural disasters. Effective July 1, the rules cover non-delinquent loans.
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The Reserve Bank of India (RBI) launched a framework allowing lenders to provide relief to borrowers hit by natural disasters starting July 1. The policy follows draft directions from January and targets borrowers with defaults under 31 days. This standardized relief protects bank balance sheets against rising climate-related disruptions to agriculture and household incomes.
