RBI may opt for loan recast for few sectors

New Delhi, June 29

The RBI has begun spadework for a one-time loan recast for some sectors severely hit by the Covid, as per sources. The Indian Banks’ Association and many other bodies have made representation to both the government and the RBI for the one-time recast in the wake of massive disruptions caused by the pandemic.

Based on the assessment, contours would be framed for the sector that may be eligible for the loan recast, the sources said, adding something in this respect should come by the end of August when the six-month moratorium comes to an end. — PTI

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