NBFC association to RBI: One-time loan restructuring need of the hour

FIDC has asked the central bank to extend the facility to all customer loans

The Finance Industry Development Council (FIDC) — an industry body representing non-banking financial companies — has, in a fresh letter to the Reserve Bank of India (RBI), sought a one-time restructuring of loans availed by businesses and individuals who may be facing cash flow problems.
 

Micro, small, and medium enterprises (MSMEs) are currently availing of this facility, and the FIDC has asked for the same to be extended to all customer loans, to enable lenders to re-assess cash flows of customers and accordingly revise repayments.
 

It has also asked the RBI to permit debt recast without the need of a