BANK NEWS
A meet of PM Shri Narendra Modi with heads of Banks
New Delhi: Prime Minister Narendra Modi decided to schedule the meeting with the heads of Banks and other financial institutions on Wednesday, July 28 to discuss the major highlights over the health of the Indian financial sector in the current situation of COVID-19 Pandemic.
There will be a video conference meeting with top bureaucrats and chiefs of NBFCs, the discussion will be on the financial situation in the banking sector and liquidity in the banks.
The Credit Line Guarantee Scheme will also be reviewed by the Prime Minister which the government had announced under the Atmanirbhar Bharat package. There will be discussion over the mainstream of banks' demands over the no more moratorium on loans, in which RBI currently thinking that it will extend or not.
RBI had already extended the moratorium period once in May to August after the first phase of it on March 1, 2020, which permits all the commercial banks, cooperative banks, all-India Financial Institutions, and NBFCs which includes housing finance companies and micro-finance institutions.
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