Senior Sahakar Bharati leader and RBI central board member Satish Marathe has demanded an across-the-board one-time restructuring of loans arguing the misuse of past recast schemes could not be a reason for not supporting companies affected by the COVID-19 pandemic.
He urged both the government of India and the RBI to mull over one-time loan restructuring for everybody.
Since the outbreak of the Wuhan virus disease, bankers and companies have demanded a one-time restructuration to overcome their difficulties due to the scourge of the virus.
In Marathe’s view, that covid 19 has compounded the country’s already existing economic difficulties needs no discussion.
Marathe said one key factor that must be kept in mind is that COVID-19 pandemic has impacted the Indian economy after two consecutive years of slowdown.