A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain/File Photo
India’s central bank unveiled measures to help lenders tide over mounting bad loans, also providing relief to individual borrowers by including one-time debt restructuring for loans, as COVID-19 infections in the country trigger strict lockdowns in several states.
The moratorium will be available to individuals and small and medium enterprises that did not restructure their loans in 2020 and were classified as standard accounts till March 2021, Reserve Bank of India Governor Shaktikanta Das said in a virtual address.
“Small businesses and financial entities at the grassroot level are bearing the bigg…
Read the full article at: https://www.reuters.com/world/india/india-cenbank-allows-fresh-moratorium-some-small-borrowers-amid-covid-19-crisis-2021-05-05/
