On Monday, Finance Minister Nirmala Sitharaman will hold a meeting with the heads of public sector banks amid Corona transition. She will discuss various issues including disbursement of debt during this meeting. This meeting will take place through video conferencing. The Finance Minister will also review during the meeting with the heads of banks whether banks have given the benefit of interest rate reduction to the borrowers or not. She will also discuss about the facility of moratorium on the payment of loan. People aware of this matter gave information about this matter. It is noteworthy that the government is engaged in all kinds of efforts to revive the economy affected by Covid-19.
Corona hit on airlines, Air India pilots found corona infected
The Reserve Bank of India (RBI) had drastically cut the repo rate by 0.75 percent on 27 March. Three months' deferment was also given to the borrowers on the installment of repayment of the loan. Earlier this month, RBI Governor Shaktikanta Das had a meeting with the heads of public and private sector banks and discussed the economic situation in detail. Das also reviewed the implementation of various measures announced by the central bank.
Construction of Tawaghat-Lipulek road will boost India-China trade
Sources on the matter said that the status of Long Term Repo Operations (TLTRO) announced by RBI for NBFC sector and micro-finance institutions and under Covid-19 emergency credit line in the meeting of Finance Minister with heads of public sector banks. Approvals will also be discussed. Public sector banks have approved loans of more than Rs 42,000 crore to MSME sector and corporate companies since the lockdown started.