{"id":13192,"date":"2020-08-08T13:06:23","date_gmt":"2020-08-08T13:06:23","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=13192"},"modified":"2020-08-08T13:06:23","modified_gmt":"2020-08-08T13:06:23","slug":"veteran-banker-kv-kamath-to-help-with-coronavirus-related-stressed-assets-rbi-sets-up-panel","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=13192","title":{"rendered":"Veteran banker KV Kamath to help with coronavirus-related stressed assets; RBI sets up panel"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2016629\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660.jpg\" alt=\"KV Kamath, interest rate, bank interest rate, check interest rate, New Development Bank, economic slowdown, recession, coronavirus, RBI, moratorium\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-2016629\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660.jpg\" alt=\"KV Kamath, interest rate, bank interest rate, check interest rate, New Development Bank, economic slowdown, recession, coronavirus, RBI, moratorium\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2016629\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660.jpg\" alt=\"KV Kamath, interest rate, bank interest rate, check interest rate, New Development Bank, economic slowdown, recession, coronavirus, RBI, moratorium\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/kv-kamath-660-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on Thursday.<\/span><\/figure>\n<\/div>\n<p>The Reserve Bank of India (<a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a>) on Friday set up an expert committee under veteran banker K V Kamath to suggest financial parameters for resolution of coronavirus-related stressed assets. The committee will submit its recommendations to the RBI, which will notify them along with modifications, if any, in 30 days.<\/p>\n<p>As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on Thursday, the RBI has announced a \u2018Resolution Framework for COVID-19-related Stress\u2019, as a special window under the Prudential Framework on Resolution of Stressed Assets issued on June 7, 2019.<\/p>\n<p>The resolution framework envisages constitution of an expert committee by the RBI to make recommendations on the required financial parameters to be factored in into the resolution plans, with sector-specific benchmark ranges for such parameters.<\/p>\n<p>The expert committee will also undertake the process validation for the resolution plans to be implemented under this framework, without going into the commercial aspects, in respect of all accounts with an aggregate exposure of Rs 1,500 crore and above at the time of invocation.<\/p>\n<p>The other members of the committee will be Diwakar Gupta (effective September 1, 2020, after the completion of his term as vice-president of ADB); T N Manoharan (effective August 14, 2020, after the completion of his term as chairman of <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/canara-bank-stock-price\/\" rel=\"noopener noreferrer\">Canara Bank<\/a>); and Ashvin Parekh will be strategy advisor; and the Indian Banks\u2019 Association CEO will function as member secretary of the panel.<\/p>\n<p>In a major relief to corporate and retail borrowers, the RBI on Thursday permitted banks to go for one-time restructuring of loans that are facing stress due to the COVID-19 crisis with a view to mitigating risks to financial stability.<\/p>\n<p>The restructuring will be allowed as per the prudential framework issued on June 7, 2019, RBI Governor Shaktikanta Das said while announcing host of measures after meeting of the Monetary Policy Committee.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/veteran-banker-kv-kamath-to-help-with-coronavirus-related-stressed-assets-rbi-sets-up-panel\/2048224\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on Thursday. The Reserve Bank of India (RBI) on Friday set up an expert committee under veteran banker K V Kamath to suggest financial parameters for resolution of coronavirus-related stressed assets. The committee [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13193,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-13192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/08\/kv-kamath-660.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13192"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/13193"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}