Govt forms three-member expert panel to assist in assessment of relief to bank borrowers

Government has constituted a three member expert committee to assist in the assessment of relief to bank borrowers.

The committee chaired by former CAG Rajiv Mehrishi will measure the impact on the national economy and financial stability of waiving of interest and COVID-19 related moratorium.

It will also give suggestions to mitigate financial constraints of various sections of society in this respect and measures to be adopted in this regard. The panel will submit its report within one week.

The move came as various concerns have been raised during the ongoing hearing in the Supreme Court in the matter regarding relief sought in terms of waiver of interest and waiver of interest on interest and other related issues.