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Finance Ministry working with RBI on need for loan restructuring: Sitharaman

FM Nirmala Sitharaman said the government is working with the RBI on need for restructuring of loans to help industry tide over the impact of COVID-19. To help borrowers deal with liquidity crunch during the pandemic, the RBI had announced a three-month loan moratorium in March, which was later extended by another three months till August 31. Borrowers opting for loan moratorium can defer payment of the interest and principal component of the loan during this period. Sitharaman also said that the decision on reducing GST rates on the healthcare and other products will be taken by the GST Council.

Read More at Moneycontrol News date : 1 Aug 2020, Saturday

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