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In talks with RBI to extend moratorium, restructure loans: FM Sitharaman

Says work on development institution on, will go for reciprocity in trading arrangements

Nirmala Sitharaman

"The focus is on restructuring. The finance ministry is actively engaged with the RBI on this. In principle, the idea that there may be a restructuring required is well taken," said Nirmala Sitharaman, Finance Minister

Indivjal Dhasmana New Delhi
Union Finance Minister Nirmala Sitharaman on Friday said her ministry was working with the Reserve Bank of India (RBI) on extending the loan moratorium period for the hospitality sector, hit hard by the pandemic. She reiterated the ministry was talking to the RBI on restructuring loans for industry. 

“I understand the requirements of the hospitality sector on extending the moratorium or (loan) restructuring. We are working with the RBI on this,” she told members of the Federation of Indian Chambers of Commerce and Industry (Ficci).

The RBI had extended the moratorium period for three months till August 31. There has been demand

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First Published: Jul 31 2020 | 3:21 PM IST

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