RBI board member urges PM Modi for banking sector package

Seeking a temporary forebearance of about a year, Mr Marathe requested prime minister Narendra Modi to "keep in abeyance, all norms relating to income recognition and assets classification, provisioning and downgrade of borrowal accounts, reporting to credit information companies for all accounts that must have got classified as NPAs during the just concluded financial year 2019-2020".

from Banking/Finance-Industry-Economic Times https://ift.tt/34pZAK0