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Govt, RBI may relax bad loan rules for sector hit by coronavirus: Report

The government is discussing increasing timeline by 30-60 days to classify a loan as a bad loan, the source said

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Bad loan | Coronavirus

Reuters  |  New Delhi 

The government and the Reserve Bank of India (RBI) are considering giving relief to banks, aviation and other hospitality sectors hit by the coronavirus outbreak by relaxing bad loan classification rules, a source familiar with the matter said. The government is discussing increasing timeline by 30-60 days to classify a loan as a bad loan, the source said. Currently, a debt not serviced for 90 days is classified as a bad loan.

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First Published: Wed, March 18 2020. 15:51 IST
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