Finance Minister Nirmala Sitharaman will hold a review meeting with bankers and heads of non-banking financial companies (NBFCs) on September 3. The meeting is taking place ahead of the roll out of one-time debt recast for resolution of COVID-19 related stress in bank loans.
“The review (meeting) will focus on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation,” the Finance Ministry said in a statement.
The finance minister will review the implementation of the resolution framework for COVID-19 related stress in bank loans on Thursday with the top management of scheduled commercial banks and NBFCs, it said.
The Reserve Bank of India (RBI) earlier this month permitted one-time restructuring of both corporate and retail loans.
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