Tuesday, June 27, 2017

What is the Time limit for rescheduling of Short-term Agricultural and Micro-Credit?



a) In case of rescheduling of any classified Short-term Agricultural and Micro-Credit, 6 months may be added with following time-limit from the day after the expiry date/repayment date of last installment to determine the repayment schedule which will be started from the date of rescheduling.
b) If the loan is rescheduled after the expiry date, the following time-limit will be applicable:

First Rescheduling
Repayment time limit for rescheduling should not exceed 2 (two) years from the expiry date of loan
Second Rescheduling
Maximum 1(one) year from the date of 1st rescheduling.
Third Rescheduling
Maximum 6(six) months from the date of 2nd rescheduling

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