Today news
The same in other media
19.05 - 22:43
Banks to elongate working capital cycles for small businesses amid disruptions
Reading now: 419
MUMBAI: Indian banks have decided to elongate the working capital loan cycles by 30-90 days while determining credit drawing power of small businesses hit hard by the covid-19 pandemic, said two people aware of the development.
While some banks have already started implementing this, a few others are finalising the contours of their revised framework.
The people quoted above said that the proposal was floated by the Indian Banks’ Association (IBA) in its letter to the Reserve Bank of India (RBI) on 23 March, which allowed it on 27 March. “However, it is taking time because credit committees of individual banks will have to approve it," said the first person quoted above.
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
COVID-19
United States
|
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
|
India
|
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
|
Brazil
|
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
|
United Kingdom
|
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
|
Russia
|
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
|