Excelsior Correspondent
SRINAGAR, Dec 10: In a significant relief for traders and entrepreneurs affected by the April–May disturbances following the Pahalgam attack, the Reserve Bank of India (RBI) has extended the deadline for implementing the special rehabilitation package until December 31, 2025.
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Official sources said the extension was approved after the J&K UTLBC recommended additional time during its 17th meeting on November 29.
Acting on this proposal, they said, the RBI issued fresh directions to banks to bring all eligible borrowers under the relief measures within the revised timeframe.
They said, banks have been instructed to expedite processing, with Cluster and Zonal Heads asked to sensitise field branches for swift and hassle-free execution, with all existing terms of the rehabilitation scheme to be kept unchanged.
Despite the scheme being operational for several months, official sources said that the pace of rehabilitation has been slow, leaving many affected business owners waiting for assistance.
The extension, they said, is expected to push banks to clear pending cases and ensure timely support for units that suffered losses during the unrest.
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