RBI says loan restructuring plan will help revive the economy

A new measure to allow 'Indian lenders' to restructure loan will empower a durable resolution for cash-strapped businesses and help to revive the economy, said by the bank Chief Shaktikanta Das.

As businesses are under a lot of stress due to Covid-19, so the health of bank is very important, said by Reserve bank of India Governor Shaktikanta Das.

Indian governments are trying to support the economy that's been spoiled due to Covid-19. Banks are also struggling hard to accelerate the credit growth to revive the economy, which is set for its first annual contraction in more than four decades.

Das said that the bank will be able to extend or provide new moratorium to borrowers under this plan.