The Bank of Russia recommended that credit institutions be more active in helping customers who find it difficult to service a loan. This is reported on the Central Bank's website.
According to the regulator, this measure will allow borrowers who face difficulties in fulfilling their loan obligations to resolve financial difficulties in interacting with the bank directly, eliminating the participation of unscrupulous intermediaries.
The Central Bank recommends that banks proactively offer borrowers possible debt settlement scenarios. Reducing the amount of accrued penalties, as well as granting deferrals for the payment of principal, interest, or part of them, are considered as support mechanisms.
"At the same time, you should not wait until the client makes a delay. Borrowers who are still paying on time, but their financial situation is unstable, or who, according to the bank, are going to turn to borrowers, may also need help," the Bank of Russia emphasizes.
