Coronavirus impact: NBFCs urge RBI to allow draw-down from reserves for provisioning

"We urge upon RBI to consider, as a one-time measure, to allow NBFCs to draw-down from their Reserves and adjust towards additional Expected Credit Losses provision requirement, in excess of provision calculated as per normal Probability of Default and Loss Given Default," Finance Industry Development Council, a representative body of assets and loan financing NBFCs, said in a letter to RBI Governor Shaktikanta Das.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bxnXHB