A day after the Reserve Bank allowed restructuring defaulted loans of up to Rs 25 crore taken by micro, small and medium enterprises (MSMEs), its Governor Shaktikanta Das said he will hold talks with representatives from the MSME and non-banking financial companies (NBFCs) next week.
"Will hold meetings with MSME associations and representatives of NBFCs next week," Das said in a tweet.
On Tuesday, the RBI permitted a one-time restructuring of existing loans that are in default but "standard" as on January 1, 2019, without an asset classification downgrade.
Support for MSMEs was amongst the many contentious issues between the RBI and the government. It was also widely speculated to be the main reason for the abrupt resignation of previous RBI Governor Urjit Patel last month.
Recently, the newly appointed RBI Governor also met chiefs of public sector and private sector banks to know their concerns and issues affecting the lenders.
--IANS
rrb-rv/nir
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app