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RBI MPC: Restructuring of loans will restore confidence in the banking system, says Pronab Sen

Updated : August 06, 2020 07:06 PM IST

Former chief statistician Pronab Sen on Thursday said one-time restructuring of loans will restore a degree of confidence in the banking system.

In an interview to CNBC-TV18, Sen said restructuring rather than extension of moratorium is desirable.

The Reserve Bank of India's Monetary Policy Committee kept the repo rate unchanged in the August policy. With no change this time, the repo rate currently stands at 4 percent. The reverse repo rate has been maintained at 3.35 percent.
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