New Delhi: The government on Thursday asked banks not to declare any stressed loan account of MSMEs as NPA till March 2020 and work on recasting their debt.
At a press conference after meeting PSU bank heads, Finance Minister Nirmala Sitharaman said there already exists a circular from the Reserve Bank that provides for stressed loan accounts of MSMEs not being declared non-performing assets (NPAs).
She said banks have been asked to follow that circular and not declare any stressed MSME loan as NPA till March 2020 and look at recasting their debt.
This would help the MSME sector, she said. Also, banks have identified some NBFCs that they can lend to so that liquidity and credit is made available to those seeking money, she said.
Delhi Car Blast Co-Accused Muzammil Shakeel Used Flour Mill To Process Chemicals To Make Explosives, Claim Reports - PICTURES
Karnataka: Siddaramaiah Rejects Leadership Change Buzz, Says He Will Continue As Karnataka CM And Present State Budget
VIDEO: Meow Again? Ben Duckett, Travis Head Re-Ignite HEATED SLEDGE Battle In AUS vs ENG Ashes 1st Test
Delhi-Mumbai Expressway Tragedy: Truck Container Bursts Into Flames After Colliding With LED Board; Driver Burnt To Death, Watch Chilling Footage
