One-Time Restructuring Of Loans Needed
Uddhav Poddar, MD, Bhumika Group
We welcome the further reduction of policy rates by 40 basis points announced today, with this round of reduction the lending rates are like to be at the lowest in 10-15 years. The extension of loan moratorium by another 3-months will help a vast majority of people tide through this period. However, we were expecting RBI to allow a one-time restructuring of loans seeing the pain across sectors, and we hope to hear some announcements in that regard soon.