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Business

ICRA: Extension of moratorium could pose risk to lenders

by TLN Team August 6, 2020
written by TLN Team August 6, 2020
ICRA: Extension of moratorium could pose risk to lenders

Credit rating agency ICRA  on Wednesday in a report said that extension of moratorium and one-time restructuring of loan could pose challenges to lenders, and also impact their financial stability if the quantum is large.

The six-month moratorium given by Reserve Bank of India ends on August 31 and the note from Icra comes on the eve of RBI’s credit policy review, where the regulator also announces changes on the regulatory front. Many voices have been seeking continuation of some relief in repayments because of the lacklustre economic conditions.

Asset quality risks due to the relief given by RBI continue to be elevated for all financiers even as lenders have reported a reduction in quantum of assets under moratorium, the report pointed out. Finance Minister Nirmala Sitharaman has said the Government is in discussion with Reserve Bank of India on a restructuring, amid reports that it may be a sector specific relief that may be in works. As the lenders may continue to have discretion on extending the moratorium, a one-time sector specific restructuring may also create implementation challenges, given the interlinkages with various sections of the economy, it added.

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