Discussion on the current economic situation at the board meeting of Zarva Bank

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Mumbai, Ta. 26 June 2020, Friday

The current economic situation of the country was discussed at a board meeting of the Reserve Bank held under the auspices of Coronavirus. The board also discussed the economic challenges posed by Corona.

In a press release issued after the board meeting, the RBI said that the performance of the Reserve Bank during the financial year July 2012 to June 2020 was also discussed.

The list does not shed light on whether the demand for restructuring of loans by banks was discussed. Banks are demanding restructuring of loans to ease the strain caused by Kovid-12. Finance Minister Nirmala Sitaram recently said that discussions were underway with the Reserve Bank in this regard.

The Finance Minister made a statement in this regard in his interaction with the industries. The list stated that some other issues were discussed at the board meeting held by video conferencing but did not elaborate on what kind of issues were taken up for discussion.

If loans under stress are restructured, it will eliminate the need for banks to make provisions and classify loans as NPAs, an analyst said.


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