Reserve Bank of India (Relief Measures by Banks in Areas Affected by Natural Calamities) Directions, 2018
The Master Directions aim to provide relief measures to farmers/loanees affected by natural calamities declared by the State Government/Authorities.
Institutional Framework:
Banks shall establish policies/procedures for dealing with natural calamities, and Divisional/Zonal Managers shall have discretionary powers for need-based restructuring of loans.
State Level Bankers’ Committee (SLBC)/District Consultative Committee (DCC) meetings shall be held to discuss and implement relief measures.
Scope:
The Master Directions shall apply to farmers/loanees who have been affected by a natural calamity and are willing to avail the benefits under the guidelines.
Key Provisions:
The directions provide for relief measures, including need-based restructuring of loans, to mitigate the impact of natural calamities on affected farmers/loanees.
Chat with the Master Direction: