Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for Covid-19 related stress by September 15
Banks may restructure loans of more than Rs 10 trillion largely attributed to 5-6 critical sectors, including aviation, commercial real estate and hospitality, that have been severely hit by the Covid-19 outbreak, according to bankers.
Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for Covid-19 related stress by September 15.
According to a top official of a public sector bank, it is win-win for both lenders and borrowers.
Explaining the rationale, the ba…
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