Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on Thursday for the smooth and speedy implementation of the one-time debt recast for resolution of COVID-19-related stress in bank loans. The Reserve Bank of India (RBI) last month permitted a one-time restructuring of both corporate and retail loans without getting classified as a non-performing asset (NPA). Banks are in the process of getting a board-approved restructuring framework in line with the framework and eligibility defined by the RBI.
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