In the fight against the epidemic corona infection, the government and RBI have given the most emphasis on saving the general public and the business world, who are not very enthusiastic about taking advantage of this scheme. This reality is of the Moratorium Scheme on repayment of term loan. The country's largest lender State Bank of India (SBI) has said that only 22 per cent of its customers have taken advantage of the Moratorium Scheme for the period March-May, 2020. These customers were given the relief of not paying the loan installment for three months, but about 82 percent of the customers have paid their installment for at least two months. This information was given by SBI Chairman Rajneesh Kumar. However, he also feared that there may be more number of people taking advantage of Moratorium during the quarter of June to August.

For your information, let us tell you that RBI has given the benefit of moratorium to the customers who take a term loan for three-three months in two phases. This scheme has been implemented from March to August 2020 to provide some help to the general public and the corporate world in the circumstances arising out of Kovid-19. The Moody's report states that as of May 2020, ICICI Bank's 30 percent borrowers have taken advantage of the moratorium, while customers with Kotak Mahindra Bank's 26 percent share of the total loan have opted for this option. Axis Bank has said that 10-12 per cent of its customers have opted for Morotorium.

Apart from this, SBI also revealed the financial results for the last quarter (January-March, 2020) of the financial year 2019-20, which is better than expected. This quarter the bank has a net profit of Rs 3,580.81 crore, which is four times more than the same quarter of the previous financial year. This quarter the bank's income has increased and has also helped in reducing the NPA. The level of NPA has come down from 2.65 per cent to 2.13 per cent as against the total advance. The bank has also had to adjust Rs 11,894 crore due to the NPA, which was Rs 8,193 crore in January-March, 2019. The same, when talking about the entire financial year, the bank has earned a record profit of Rs 14,448 crore whereas in the year 2019-19 there was a net profit of only Rs 862 crore. For this record profit, stake sale in two major subsidiaries SBI Cards and SBI Life has been the most important reason. But now that the economy and financial structure is being adversely affected due to covid-19, in the year 2020-21, the SBI chairman says that the situation may be much worse from September 2020 onwards.

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