Breaking news

A new line of argument has already come to dominate the public sphere: it’ more The government has gone one step further to detect community spread of the more The government has issued an order to abolish the six allowances, including more Aarogya Setu application launched by NIC is aimed to track COVID-19 affected more SEOUL| South Korea’s unemployment rate was unchanged in April as the more Amid the outbreak of Corona pandemic in the country, Indian government has more Prime Minister Narendra Modi in his address to the nation on Tuesday indicated more Corona infection in the country is taking a macabre form. So far, more than 74 more Congress General Secretary Priyanka Gandhi Vadra has written a letter to UP more On Tuesday, Prime Minister Narendra Modi announced a package of Rs 20 lakh more

In Talks With RBI to Increase Moratorium : Finance Minister

Interest free loan of 12000 crore to states

Finance Minister Nirmala Sitharaman said that the ministry is in talks with the Reserve Bank of India (RBI) to increase the loan moratorium. The loan moratorium facility will expire on 31 August. Even after August 31, the period for repayment of loan for customers can be extended. But it is being opposed by the banks.

Sitharaman, referring to the hospitality sector in a program of industry organization FICCI (FICCI), said that the sector has been affected the most due to the lockdown. This sector could suffer a loss of Rs 90,000 crore this year.

During a meeting with RBI Governor Shaktikanta Das earlier this week, Rakesh Bharti Mittal, vice chairman of Bharti Enterprises, also demanded an extension of the moratorium and warned that if this facility was not extended further, there will be more companies joining NPA list this year.

On Friday, the country’s largest bank SBI announced its quarterly results. The result made it clear that he was not in favor of extending the moratorium. SBI Chairman Rajneesh Kumar said that 9.5 per cent of the account holders who had taken advantage of the moratorium, 5.2 per cent were corporate entities based on checking the accounts conducted by the bank, which had been in a position to lend loans since September. Not only SBI, but also HDFC Chairman Deepak Parekh had said that the moratorium should not be carried forward.

(Infeed App is now live on Google Play Store. Click Here to download)

Story Page