The Finance Ministry on Thursday fashioned three-member professional committee to help authorities in evaluation of offering reduction to the financial institution debtors. The committee has been fashioned after varied considerations had been raised through the proceedings of the continuing listening to within the Supreme Court docket in matter of offering waiver of curiosity on mortgage repayments through the moratorium interval.
The committee might be headed by Rajiv Mehrishi, former Comptroller and Auditor Common of India. The committee will even have Ravindra H. Dholakia, former Professor, IIM Ahmedabad & ex- Member, Financial Coverage Committee of Reserve Financial institution of India and B. Sriram, Former Managing Director, State Financial institution of India & IDBI Financial institution.
The three-member professional panel will measure the impression on the nationwide financial system and monetary stability of waiving of curiosity and waiving of curiosity on curiosity on the COVID-19 associated moratorium. The committee will give its recommendations to mitigate monetary constraints of varied sections of society on this respect and measures to be adopted on this regard and another recommendations which may be essential given the present scenario.
The committee will submit its report inside one week. State Financial institution of India will present secretarial assist to the committee. The committee might seek the advice of banks or different stakeholders, as deemed essential, for the aim, Finance Ministry mentioned in an announcement.
