Roll Out Loan Resolution Schemes By Mid-September: Nirmala Sitharaman To Banks | Read

PUBLISHED ON: September 3, 2020 | Duration: 0 min, 32 sec

  
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Finance Minister Nirmala Sitharaman on Thursday asked bankers to roll out loan resolution schemes by September 15. The Finance Minister also said that COVID-19-related distress must not impact their assessment of borrowers' creditworthiness. She said lenders must immediately put in place board-approved policies for resolution, identifying eligible borrowers and reach out to them. There should be a quick implementation of a sustained resolution plan by lenders for the revival of every viable business, said Ms Sitharaman during a review meeting with heads of scheduled commercial banks and non-banking finance companies (NBFCs).
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