Banking · Relief Measures in Natural Calamities
In the event of natural calamities such as drought, what guidelines does the RBI mandate for banks regarding the restructuring of outstanding short-term crop loans?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The banks must classify the account as NPA immediately and initiate recovery procedures
- 2The outstanding amount must be immediately converted into a long-term loan of 10 years
- 3The outstanding short-term loans should be converted into medium-term loans with repayment periods extending from 3 to 5 years depending on severity✓
- 4The outstanding short-term loans must be immediately written off by the banks
Correct answer
The outstanding short-term loans should be converted into medium-term loans with repayment periods extending from 3 to 5 years depending on severity
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