MUMBAI : The Reserve Bank of India’s (RBI) extension of the ongoing moratorium by another three months will take care of cashflow disruptions for borrowers even in the absence of a one-time debt recast relief, said Rajnish Kumar, chairman, State Bank of India (SBI).
Kumar spoke to reporters soon after RBI governor Shaktikanta Das announced a 40-basis point (bps) repo rate cut and several regulatory measures in the wake of coronavirus outbreak.
Asked about the central bank not heeding lenders’ request for allowing a one-time debt recast window, Kumar said, “our tendency has become that whatever has been given, just take it and ignore it and then start talking about what has not been done." Interestingly, Kumar is the chairman of the Indian