State Bank of India has given a three-month relief to borrowers under its settlement schemes and will not charge extra interest keeping in mind the COVID-19 pandemic, the country's largest lender said on Wednesday.

Against the backdrop of current disruption in the market and 21 days lockdown till 14 April, 2020, State Bank of India (SBI) has come forward to extend the timeline for payment of settlement amount by three months, it said in a statement.

Customers on-boarded under settlement scheme SBI OTS 2019, Rin Samadhan 19-20 and general compromise can meet payment obligation by June 30, 2020, said the country's largest lender.

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