Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will review with the top management of Scheduled Commercial Banks and NBFCs, the implementation of the resolution framework for COVID-19 related stress in bank loans on Thursday, 3rd September 2020.

The review will focus on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation.

Resolution framework for COVID-19 loan stress to be reviewed with banks and NBFCs to enable viability-based revival. Review of the resolution framework for COVID-19-related stress in bank loans will bring together Scheduled Commercial Banks and NBFCs to finalise bank policies, identify eligible borrowers based on viability, and address procedural or implementation issues to enable timely and coordinated adoption of revival measures.