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RBI governor remains non-committal on moratorium

RBI governor remains non-committal on moratorium

Reserve Bank of India (RBI) governor Shaktikanta Das remained non-committal on both moratorium and a loan-restructuring scheme despite conflicting demands from lenders and industry. The governor on Monday called for an infrastructure stimulus and said that any subsidy has to be through direct benefit transfer.

In an interaction organised by the Confederation of Indian Industry (CII), HDFC chairman Deepak Parekh made a representation to the governor for not extending the moratorium beyond August 31. “We see that even those who can pay — whether individual or corporates — are taking advantage of the moratorium and not repaying, and it is hurting us. There is some talk that the moratorium is going to be extended, our request is that it should not be done,” said Parekh.

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