At 10:55 am, SBI Cards and Payment Solutions shares had slid more than 3 percent on BSESBI Cards and Payment Services has actually established a Covid-19 tension resolution mechanism in line with the relief determines announced by the Reserve Bank at the start of the month.
The reserve bank had actually revealed Resolution Structure 2.0 earlier this month, making it possible for individuals and small companies with exposure up to Rs 25 crore to go for loan restructuring if not availed earlier.
Pursuant to RBI's circular dated May 5, 2021, the company has actually framed the resolution framework 2.0 for COVID-19 related stress of people and small businesses, based on the tenets as mentioned in the central bank guidelines, SBI Card said in a regulative filing to the stock exchanges.The policy offers relief to stressed out cardholders through resolution plans and related provisioning and property classification norms.SBI Cards and Payment Services is a pure-play charge card company promoted by the nation's largest lender State Bank.At 10:55 am, SBI Cards and Payment Solutions shares had slid more than 3 per cent to Rs 1,057.45 as against a 0.3 per cent rise in the benchmark indices.