Page 29 - Banking Finance April 2021

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which generally are in terms of - elevated interest cost;
reflection of 'Restructured' term in credit reports which
hampers credit scores thereby lessening the borrowers
chance of availing another credit facility in future.
Y There is always an underlying possibility of extended
implication on the future of financials. Therefore, only
those who are genuinely facing the bout while serving
of their EMIs due to financial instability arisen by current
COVID-19 situation should opt for loan resolution plan
offered by lender.

support of the contention that due to COVID-19 Y Rescheduling of loan repayments which is one of the
pandemic like letter issued by company terminating solutions under Resolution in the said scheme is to be
their services or a copy of the letter / email opted by those, if the there is considerable impact on
correspondence stating the salary cut. income generation and to those individual borrowers
Self Employed : who at present are having minimal or no source in
They had to furnish the evidence of financial order to make repayments right now, may opt for the
position impacted with bank statements / GST moratorium with longer spread.
Returns or any other similar document which is Y According to one's own factual situation, one has to opt
acceptable to lenders for ascertaining the impact for the remedial measures which are offered as relief
due to COVID-19 pandemic. in the form of Resolution that may be in terms of availing
of extended moratorium or rescheduling or conversion
Perspective view about the relief offered: as permitted under the said Framework of Relief to
Y The exercise of Restructuring always comes with a cost personal loan segment. R

DBS Bank India partners with TRRAIN to facilitate youth employment

DBS Bank India has entered into a strategic alliance with Trust for Retailers & Retail Associates of India (TRRAIN) to
create better employment and livelihoods. The partnership will help support the youth from low-income households in
getting long-term employment opportunities.
DBS, as a part of this partnership, will be facilitating the skills training and employment of individuals affected by the
pandemic and persons with disabilities via a one-year-long pan-India program, a combination of classroom and online
training sessions. The training will be conducted at TRRAIN centres across major cities like Mumbai, Chennai, Delhi,
Bengaluru, Kolkata, Ahmedabad.

After the completion of the training, candidates will get recruited by leading industry partners in the retail and e-
commerce sector across Tier-1 and Tier-2 cities, and the program focuses to train and secure jobs for over 800 individuals
by the end of 2021.
Shoma Narayanan, Executive Director, Group Strategic Marketing & Communications, DBS Bank India, stated, "DBS is
committed to making meaningful contributions to society and creating a lasting impact beyond banking. We are actively
engaging with initiatives to build back better in the aftermath of the pandemic. Our partnership with TRRAIN is one
such initiative as it will help upskill youth as well as the differently-abled and facilitate access to job opportunities."

B.S. Nagesh, Founder & Settlor, TRRAIN and Ameesha Prabhu, CEO, TRRAIN, said "Trust for Retailers and Retail
Associates of India is happy to join hands with DBS Bank in our efforts to create sustainable livelihoods for persons with
disabilities and underprivileged individuals. With DBS Bank's support, we will be impacting the lives of 400 persons with
disabilities and 425 underprivileged young individuals by providing them with employment opportunities in retail. We
look forward to an impactful and continued CSR collaboration with DBS Bank."

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