SBP allows one year moratorium on consumer loans’ principle

KARACHI: The State Bank of Pakistan (SBP) has announced relief for the consumers amid coronavirus outbreak, ARY News reported on Tuesday. The banks and development finance institutions (DFIs) would defer the principal amount on consumer loans for one year to facilitate borrowers.

The SBP’s official twitter account posted that borrowers availing consumer finance for auto, housing, and personal loans and credit cards, who were regular on their payments up till December 31, 2019 could request banks to defer principal amount for one year without fee or increase in mark-up. However, it said that they would continue to service the mark-up amount.

“Borrowers who are unable to service the mark-up amount or need deferment exceeding one year, may request the bank to reschedule/ restructure their facilities,” it added.

The SBP said this will not affect the credit history of the borrower.

Earlier, the central bank in a circular incorporating revised prudential regulations said that banks/DFIs, upon a written request of an obligor received before June 30, 2020, would offer deferral of principal comportment of instalments for one year, unless the customer requests for a shorter period, at no fee or increase in mark-up rate or mark-up on mark-up; provided that the obligor would continue to service the mark-up amount as per agreed terms and conditions.

The post SBP allows one year moratorium on consumer loans’ principle appeared first on ARY NEWS.

Comments

Police arrest another suspect in Rimsha Wassan murder case

KHAIRPUR: Police on Tuesday arrested another suspect in Rimsha Wassan murder case during a raid in Khairpur, ARY News reported. Police said suspect Hidayatullah was arrested during the raid and weapons were recovered from his possession. They said the arrested suspect was a close aide of Zulfiqar Wassan, Sabir Wassan and Abdul Ghaffar. “The suspect will be produced before the Anti-Terrorism Court for remand,” said police. On March 19, an anti-terrorism court (ATC) had extended the remand of three suspects in Rimsha murder case for three more days for further investigations. Hearing the Rimsha murder case, the court, on the request of police, had decided to extend the physical remand of the suspects for three more days. Read More: ATC extends suspects’ remand in Rimsha murder case According to the details, police had produced the prime suspect, Zulfiqar Wassan alias Zulfoo , his associates nominated in the case, Ghaffar Wassan and Sabir Wassan before the court amid strict se...

Sajal Aly, Ahad Raza Mir are already sending out wedding invites

Pakistan’s hot favourite celebrity couple Sajal Aly and Ahad Raza Mir are all set to tie the knot soon. The pair has already started sending out wedding invitations to friends and family as fans eagerly wait for one of the biggest celebrity weddings of the year. The actors invited British Deputy High Commissioner, Mike Nithavrianakis, to their big day, who took to Twitter to share that it was wonderful meeting them. Thank you! Hope to see you at the wedding @MikeNith1 https://t.co/YtOOYBJuhq — Sajal Ali (@Iamsajalali) February 28, 2020 “They’ve been ‘married’ on-screen several times. Now for the real deal. Best wishes to them both,” he wrote. The Mom actress thanked him and said “Hope to see you at the wedding.” Earlier, a photo of a cake which had ‘Ahad aur Sajal ki dholki’ written over it went viral. The lovebirds got engaged in July last year after dating for a while. The post Sajal Aly, Ahad Raza Mir are already sending out wedding invites appeared first on...

India’s coronavirus cases rise by a daily record of 55,078

BENGALURU: India reported another record surge in daily COVID-19 cases on Friday, taking the total to 1.64 million, as the government further eases virus curbs in a bid to resuscitate the economy, while also trying to increase testing. Infections jumped by 55,078 in the past 24 hours, while the death toll rose by 779 to 35,747, the Ministry of Health and Family Welfare said on its website. The ministry also said it aimed to raise the country’s capacity to 1 million coronavirus tests per day in the medium term, from a record 600,000 on Friday. The federal government this week announced the reopening of yoga institutes and gymnasiums, and removed restrictions on the movement of people and goods. The post India’s coronavirus cases rise by a daily record of 55,078 appeared first on ARY NEWS .

Siasat Wala Blog

Search This Blog