Bengaluru: State Bank of India chairman Rajnish Kumar said that an across the board extension of moratorium on loan repayment may not be required beyond August 31.
He, however, said there are certain sectors that still need support and the Reserve Bank of India (RBI) will take a calibrated approach. In March, the RBI had announced a three-month moratorium on repayment of all term loans, which, in May, was extended by another three months till August 31.
Speaking at the 7th SBI Banking and Economic Conclave, Kumar said though it is very premature to say if there will be another extension of the moratorium but the RBI will have data from the system and would take an appropriate call. But if you ask me, an across the board moratorium is not required anymore. However, certain sectors may need some relief and that is where based on the data available with RBI, there will be a calibrated response, Kumar said.
State Bank of India chairman Rajnish Kumar said that an across the board extension of moratorium on loan repayment may not be required beyond August 31. He, however, said there are certain sectors that still need support and the Reserve Bank of India (RBI) will take a calibrated approach. In March, the RBI had announced a three-month moratorium on repayment of all term loans, which, in May, was extended by another three months till August 31.
Speaking at the 7th SBI Banking and Economic Conclave, Kumar said though it is very premature to say if there will be another extension of the moratorium but the RBI will have data from the system and would take an appropriate call.
“But if you ask me, an across the board moratorium is not required anymore. However, certain sectors may need some relief and that is where based on the data available with RBI, there will be a calibrated response,” Kumar said.
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