BANK NEWS
No more extension of moratorium required SBI Chairman Rajnish Kumar
New Delhi: Rajnish Kumar Chairman of State Bank of India said on Friday that across the board relief on payment of loan dues is not needed beyond August and he expects the Reserve Bank of India to take a more sectoral approach in the coming months.
“The RBI has data from the entire financial system and they will take a call basis that, but if you ask me across the board moratorium is not required anymore,” Kumar said
“If I go by my book and the analysis of that book, the people who have availed moratorium that number is not very significant,” Kumar added. “It is premature to predict that there will be extension of moratorium till December.”
Kumar added that six months moratorium was a mini restructuring and relief for restructuring has to be given to company making losses. Some media reports had suggested that RBI could look at extending the moratorium till December.
Kumar also hinted towards a sharp rebound in business recovery from June onwards but sounded a note of caution on account of lower activity in large urban industrial hubs. ET
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