Twitter

Facebook

Youtube

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
  Aalami Sahara Rashtriya Sahara Roznama Sahara
Centre in talks with RBI for loan restructuring: Sitharaman
IANS
New Delhi
Last Updated : 31 Jul 2020 05:53:41 PM IST
Centre in talks with RBI for loan restructuring: Sitharaman
Finance Minister Nirmala Sitharaman

 

As the economy goes through a severe slowdown, which is likely to impact businesses further, Finance Minister Nirmala Sitharaman on Friday said that the government's focus is now on loan restructuring and talks are underway with the Reserve Bank of India (RBI) on this.

"The focus is on restructuring. The Finance Ministry is actively engaged with the RBI on this. In principle, the idea that restructuring may be required is well taken," Sitharaman said at a FICCI webinar.
 
Of late, several industry players and bodies have sought a one-time restructuring of loans in the wake of the economic slowdown caused by the Covid-19 pandemic, and the probability of companies not being in a position to repay their dues.
 
The Finance Minister said that every step taken by the government to deal with the current situation has been undertaken after exhaustive consultation with the stakeholders and industry experts.
 
She also noted the requirement of extension of the moratorium or a restructuring for the hospitality sector and said that the government is working with the RBI on that front.
 
"I fully understand the requirements of the hospitality sector on extension of the moratorium or restructuring. We are working with RBI on this," Sitharaman said.
 
On the ECLGS scheme for MSMEs, she said that banks cannot refuse credit to MSMEs covered under emergency credit facility and in case of any refusal, such instances must be reported which she would look into.
 
On the trade front, she said that reciprocal arrangements are being considered with other countries for which India has opened up its markets. "Reciprocity is a very critical point in our trade negotiations," she said.
 
India is in the midst of talks for a trade deal with the US and also regarding FTAs with other countries.
 
 



For Latest Updates Please-

Join us on

Follow us on

Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

A Thane man, Sagar Surve has been facing torturous trolls and is having sleepless nights f

An old video featuring Priyanka Singh, sister of late actor Sushant Singh Rajput, and her

LG Electronics Inc said on Wednesday that it will introduce new C with its artificial inte

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

172.31.16.186