Nirmala Sitharaman Shaktikanta Das city New Delhi covid-19 economy crisis Nirmala Sitharaman Shaktikanta Das city New Delhi

FM Sitharaman to meet PSU bank chiefs tomorrow, to review credit flow

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NEW DELHI : Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) on Monday to discuss various issues, including credit offtake, as part of efforts to prop up the economy hit by the COVID-19 crisis.

The meeting, to be held via video-conferencing, will also take stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments, people familiar with the matter said.

The RBI had on March 27 slashed the benchmark interest rate by a massive 75 basis points and also announced a three-month moratorium to be given by banks to provide relief to borrowers whose income has been hit due to the lockdown.

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