RBI may make big announcement on loans, Anil Singhvi predicts benefit for these 2 sectors
The Reserve Bank of India (RBI) may make some big announcements in regard to the one-time loan restructuring scheme while announcing its credit policy on 6th August, 2020.
The Reserve Bank of India (RBI) may make some big announcements in regard to the one-time loan restructuring scheme while announcing its credit policy on 6th August, 2020. In a big exclusive news break, the Zee Business reporter Anurag Shah reported about the RBI's possible move and said that Finance Minister Nirmala Sitharaman has already indicated about the same on Saturday while various Indian banks including State Bank of India (SBI) have already given suggestions on the one-time loan restructuring.
Anurag Shah added, "According to exclusive sources, the RBI may make some big announcement in regard to the one-time loan restructuring. We have reasons to believe in such sources as the Finance Minister Nirmala Sitharaman has already said that one-time loan restructuring is being discussed with the RBI and the government." Shah said that before FM, RBI has also asked for suggestions from the various Indian banks on one-time loan restructuring and SBI chairman Rajnish Kumar also said in this regard while presenting the SBI Q1 results in a virtual conference.
Shah said that the government has been mulling the one-time loan restructuring demand by various sectors as they have been hit badly during the COVID-19 pandemic. He said that it will help the government to control NPA as it has gone up to around 12 per cent.
Watch full coverage in video below:
#ZBizExclusive | कोरोना संकट के चलते 6 अगस्त की पॉलिसी में लोन-रीस्ट्रक्चरिंग से जुड़ा बड़ा ऐलान संभव... एविएशन, हॉस्पिटैलिटी को मिल संकती है बड़ी राहत: सूत्र#CreditPolicy #MonetaryPolicy #Aviation #Hospitality @AnilSinghvi_ @anuragshah710 pic.twitter.com/ZoM1hwMG4d— Zee Business (@ZeeBusiness) August 3, 2020
Speaking on the possible RBI announcement, Zee Business Managing Editor Anil Singhvi said, "The RBI move will help aviation and hospitality sector immensely as these two sectors have been badly hit during the pandemic." The Market Guru further said that Indian Banks NPA have been on a rise and post-pandemic, the government has been mulling to address the one-time loan restructuring demand. This debt-restructuring move will help the government control the rising NPA as well.