Corona Virus Effect: This bank ready to return EMI for March, request only home and auto loan
Due to the corona virus, the Reserve Bank of India (RBI) has given permission to not pay any EMI and credit card bills for three months. Now one by one, all banks are giving information about this to their customers by messaging and mailing.
Now the state-owned Bank of Baroda said that if customers want the EMI refund of March, then they will get it easily. However, the bank is offering this refund option only to customers with home and auto loans.
Bank of Baroda initiative
Managing Director and CEO of Bank of Baroda, Sanjeev says that the EMI of many customers has been cut in March, as RBI has announced to give this concession to customers in the last week of March. So if the customers whose installment has gone in March and if they want back then the bank is ready to give it. Because the RBI guidelines are being implemented from March 1.
Request for installment refund
He said that customers can request to return the March installment and we will ensure that their money gets refunded. We will reverse the transaction and the money will be credited to their account.
RBI has given relief to customers
Significantly, the Reserve Bank of India had advised banks to postpone term loans and credit card payments for three months while relieving people from the cash crisis amid Corona virus. First of all, the country’s largest government bank SBI implemented RBI rules here, and gradually all banks are implementing it.
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