<span style="color: #222222;">Non-Banking Financial Companies (NBFCs) have asked the Reserve Bank of India to allow them one-time restructuring of all loans till March 2021, as their borrowers are facing funding issues amid the Corona virus pandemic and the subsequent lockdown.</span><br />'' <span style="color: #222222;">&nbsp;</span><br />'' <span style="color: #222222;">Currently, RBI has allowed banks and NBFCs for a one-time restructuring of existing loans to MSMEs till December 2020.</span><br />'' <span style="color: #222222;">&nbsp;</span><br />'' <span style="color: #222222;">NBFCs want that the one-time restructuring should be allowed for all other borrowers as well. These suggestions were made by the industry players in their meeting with the Reserve Bank of India (RBI) held yesterday in Mumbai.</span><br />'' <span style="color: #222222;">&nbsp;</span><br />'' <span style="color: #222222;">The industry body said, all their customers are facing disruptions in cash flow cycles, which is likely to be there for the major part of this fiscal. The most affected segments include transport operators, contractors and Micro, Small and Medium Enterprises (MSMEs).</span>
News On AIR | May 5, 2020 2:02 PM
Coronavirus pandemic: NBFCs ask RBI for one-time restructuring of all loans till March 2021