BANK NEWS
RBI remains silent on an extension of moratorium and loan restructuring
New Delhi: The governor of Reserve Bank of India Shaktikanta Das remains silent and gives no commitment and any kind of comment over the extension of the moratorium and a loan-restructuring scheme despite conflicting demands from lenders and industry.
There is a chance that maybe the Reserve Bank of India may allow the extension of loan repayment for the stressed sector and firms, who are not willing to pay due to the low financial stability.
There will be a great loss ahead for the bankers and it will affect the economy too if the willing borrowers also not pay their loans. The companies are taking advantage of the current pandemic by not paying their loans.
Therefore, both government and RBI are considering allowing banks to restructure company loans without having to set aside funds to cover potential losses as a one-time exemption
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