Finance Minister holds meeting with lenders for expediting resolution of loan accounts and reviewing progress of Emergency Credit Line Guarantee Scheme (ECLGS), Partial Credit Guarantee Scheme (PCGS) 2.0 and Sub-ordinate Debt Scheme https://www.taxtmi.com/news?id=23097 Implementation and oversight of the loan resolution framework for COVID-19 related stress was directed, with emphasis on lenders adopting Board-approved resolution policies, identifying eligible borrowers and proactively reaching out to them. Lenders were instructed to implement sustained resolution plans for revival of every viable business, ensure that COVID-19 distress does not adversely affect creditworthiness assessments, publish updated FAQs in multiple languages, and roll out resolution schemes by 15th September, 2020 in compliance with RBI timelines. en-us Thu, 03 Sep 2020 16:39:34 +0530 Thu, 03 Sep 2020 16:39:34 +0530 TaxTMI RSS Generator Finance Minister holds meeting with lenders for expediting resolution of loan accounts and reviewing progress of Emergency Credit Line Guarantee Scheme (ECLGS), Partial Credit Guarantee Scheme (PCGS) 2.0 and Sub-ordinate Debt Scheme https://www.taxtmi.com/news?id=23097 Implementation and oversight of the loan resolution framework for COVID-19 related stress was directed, with emphasis on lenders adopting Board-approved resolution policies, identifying eligible borrowers and proactively reaching out to them. Lenders were instructed to implement sustained resolution plans for revival of every viable business, ensure that COVID-19 distress does not adversely affect creditworthiness assessments, publish updated FAQs in multiple languages, and roll out resolution schemes by 15th September, 2020 in compliance with RBI timelines. News - Thu, 03 Sep 2020 16:39:34 +0530 https://www.taxtmi.com/news?id=23097