SBI card customers, will get a chance to repay debt along with benefits

New Delhi: SBI Card is working on a scheme for the people who failed to pay loan installments during lockdown period. SBI Card is going to start the enrollment process under restructuring plan for its ‘guilty’ customers.

Ashwini Kumar Tiwari further added, ‘We are working to connect non-paying customers to the RBI restructuring plan or our own repayment plan so that they get more time with better interest rate for outstanding payments’.

SBI Card CEO Ashwani Kumar Tiwari said, ‘many customers are not paying the first three months of the Moratorium. The company is considering them as a ‘Standard’ account’.

After this, in the second period of the moratorium, the company started the enrollment process for the customers. In this, many customers did not register themselves. Those who have not repaid, we are considering them as guilty customers.

Tiwari, who took charge last month, told the news agency PTI in an interview, “We are now enrolling these guilty customers under the RBI restructuring scheme or our repair plan so that they can get their due on more time and better interest rate.”

According to the company, it had Rs 7,083 crore arrears in May, which was reduced to Rs 1,500 crore in June. Customers who will choose restructuring plan of the company instead of RBI will benefit because such cases will not be given to CIBIL

Benefit will be given under SBI repair plan. Customers who do not take the benefit of the RBI Restructuring Scheme, will choose the repayment plan of SBI Card, they will get a special benefit. SBI Card will not send the report of such customers to the credit scoring agency CIBIL.