ARDR Scheme 5Chapter II · Chapter II
Section 5 · Section 5
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(1)
If the waiver amount is sufficient to clear the outstanding principal and interest, such accounts should be closed and the borrowers advised in writing about the extent of relief provided and closure of the account. In cases where the principal and interest exceeds Rs. 10,000 such borrowers should be advised about the relief provided to them and the balance outstanding in the account. Such borrowers should be advised to repay the balance amount.(2)
Credits may be given in the eligible loan accounts to the extent of outstanding principal and interest subject to the maximum of Rs. 10,000 and the aggregate amount held in the account called "Receivable from the Government under Debt Relief Scheme" till the amount received from the Reserve Bank/NABARD.Explanation : The interest shall be adjusted first, and then the balance will be adjusted towards principal.Your private note on this section
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