Here are the basic eligibility criteria for loan restructuring:
The applicant must have not been more than 30 days overdue on EMI/Interest payment as on Mar 01, 2020. This period is 89 days for MSME loan borrowers with borrowing from banks and NBFCs below Rs. 25 crores.
Applicant must have been impacted financially in terms of loss or reduction of income / cash flows due to the COVID-19 pandemic.
Please note that:
The reduction in income and its financial impact on the applicant will be reviewed by Fullerton India based on the information as well as supporting documents provided by the borrower.
Fullerton India will then assess the ability of the applicant to be able to resume payment of revised EMI/interest agreed upon based on the discussions and assessment before approving the resolution plan.
Fullerton India will also consider the applicant’s repayment history, and the responses given while availing the RBI moratorium between Mar – Aug, 2020.