FHRAI had informed Sanyal about reservations and non-cooperation of banks in extending the one-time restructuring of loans announced by the federal government and requested for his intervention in getting the issue resolved. “I agree that structural reforms with centralized guidelines and regulations are required for the business. I ask that the trade provides solutions and we’ll jointly try to resolve 80% of the problems,” Sanyal mentioned. Finance Minister Nirmala Sitharaman on Wednesday launched a doorstep banking providers initiative by public sector banks which can provide convenience to prospects. This is part of EASE reforms that the Department of Financial Services had undertaken in 2018.
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