 "bank, loans, deposits, bankers, accounts, savings")
Banks and financial institutions expect much heavy lifting through credit support, pegged at over Rs 11 trillion in FY21, in the days ahead. As a result, lenders have sought the easing of NPA norms, one-time restructuring, and extension of the moratorium till August-end for borrowers affected by the Covid situation.
Senior bank executives said the Indian Banks’ Association (IBA) has already approached the Reserve Bank of India with a plea for easing regulatory norms, so as to support borrowers hit by the outbreak.
The rule stating that loans unpaid for 90 days in a row will be categorised as non-performing
