: Expert committee for assessment of relief to bank borrowers to meet Industry Associations #FinanceIndia #StockMarketNEWS Expert committee for assessment of relief to bank borrowers to meet Industry

@StockMarketNEWS Wed 16 Sep, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Expert committee for assessment of relief to bank borrowers to meet Industry Associations #FinanceIndia #StockMarketNEWS
Expert committee for assessment of relief to bank borrowers to meet Industry Associations New Delhi, Sept 14 (KNN) The Expert Committee set up to assist the Government for assessment of relief to bank borrowers and chaired by Rajiv Mehrishi, former CAG of India is meeting major industry bodies tomorrow through virtual platform.

The Committee was constituted hurriedly to respond to the proceedings of the ongoing hearing in Hon’ble Supreme Court of India, in the matter of Gajendra Sharma Vs. UoI and Others regarding the relief sought in terms of waiver of interest and waiver of interest on interest and other related issues.

Besides Rajiv Mehrishi, the other two members of the Committee are Dr. Ravindra H. Dholakia, former Professor, IIM Ahmedabad & ex- Member, Monetary Policy Committee of Reserve Bank of India and B. Sriram, Former Managing Director, State Bank of India & IDBI Bank.

The Committee has been tasked to help measure the impact on the national economy and financial stability of waiving of interest and waiving of interest on interest on the COVID-19 related moratorium

It will suggest measures to mitigate financial constraints of various sections of society in this respect and measures to be adopted in this regard.

The committee will submit its report within one week.

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