Finance Minister will be meeting with banks and NBFCs on September 3

  • The recommendations of the KV Kamath Committee are to be notified within 30 days of its formation.
  • A decision will be taken by September 6 on all matters of debt owing to the Corona crisis.

Finance Minister: Nirmala Sitharaman will hold talks with banks and non-banking financial companies (NBFCs) on September 3 for financial solutions. During this time there will be discussions on bank pressure, distribution, debt collection, and loan rebuilding for Covina-19 Corona. Reserve Bank of India (RBI) Governor Shaktikant Das said in early August that, all debt cases for the Carona crisis would be resolved by September 6.

Meeting with bankers

The finance ministry said the meeting would focus on business and corporate houses to take advantage of the revival framework practically, complete bank policies, and identify borrowers. In addition, it will be discussed on easy and fast implementation Explain that Finance Minister Nirmala Sitharaman has held talks with the bankers following the recommendations of the committee headed by KV Kamath on the re-construction of the loan.

The moratorium period is until August 31

Now banks have also started identifying all such lenders, they can rebuild whose loans. State-owned bank PNB said last week that the bank could rebuild 5-6 percent of its assets. In addition, most banks expect the situation to be resolved by September to September, according to the guidelines issued by the Kamath Committee. According to sources, the committee will focus on corporate loans. In such a scenario, banks are thinking of unsecured retail loan portfolios, as the EMI period ends on August 31st.

The re-construction framework is approved

In view of the framework and qualifications issued by the RBI, banks have also started approving the framework. Approval from the management board. The RBI issued the notification on August 6. Governor Shaktikant Das said in early August that they will solve all cases of debt for the Carona crisis by September 6.

Benefits of Loan Reconstruction

Sorrow lenders can only get loan rebuilding benefits whose loan installments were due until March 1 and the loan repayment period is not over 30 days. The KV Kamath Committee set up by the RBI is also working on other financial parameters. According to the information, the notification will be issued within 30 days of the formation of the committee, so the notification will be available by September 6.


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