Saloni Subha ( Intern Journalist ) Finance minister Nirmala Sitharaman on Thursday told Banks and NBFCs to roll out a loan restructuring scheme for covid-19 related stress by September 15 and provide ample support to the borrowers following the lifting of the moratorium on repayment of debts.
The ministry persuades lenders to the organised board- approved policy for resolution at the review meeting with heads of scheduled commercial Banks and NBFCs stand for Non-banking financial companies through video conference.
Through the meeting, the Minister impressed upon the lenders that as and when the moratorium on loan repayment is lifted and borrowers must give support and covid relate distress must not affect lenders assessment of the worthiness of their creditworthiness, an official informed.
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