![SBI To Get Rs 973 Crore From Centre For Compensation Payment To Borrowers](https://c.ndtvimg.com/2021-11/p5b3svh_sbi-_640x480_03_November_21.jpg)
SBI To Get Rs 973 Crore From Centre For Compensation Payment To Borrowers
NDTV
The government on Wednesday 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.
The government on Wednesday 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.
Briefing media on the Cabinet decision, Information and Broadcasting Minister Anurag Singh Thakur said the Budget had made provision of Rs 5,500 crore for the scheme of compensation payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts.
Of this, Rs 4,626 crore payment was made in 2020-21, he said, adding, an additional claim of Rs 1,846 crore is pending.
To clear this, he said, the Union Cabinet has approved sanction of remaining Rs 973.74 crore to SBI towards payment of these dues.