NEW DELHI: the govt on Thursday found out a 3 member panel to form an assessment of the difficulty of relief sought in terms of waiver of interest on interest

NEW DELHI: the govt on Thursday found out a 3 member panel to form an assessment of the difficulty of relief sought in terms of waiver of interest on interest and other aspects on loan instalments, which were under moratorium thanks to the pandemic.
The panel are going to be headed by former comptroller and auditor general (CAG) Rajiv Mehrishri. the opposite members include Ravindra Dholakia, former IIM-Ahmedabad professor and ex-member of the RBI’s monetary policy committee, and B Sriram, former MD of SBI and IDBI Bank.
On the fixing of the panel, a finance ministry statement said various concerns were raised during proceedings within the Supreme Court regarding relief sought in terms of waiver of interest and waiver of interest on interest and other issues.
The terms of reference of the committee include measuring the impact on the economy and financial stability of waiving interest and waiving interest on interest on loan instalments during the moratorium, suggestions to mitigate financial constraints of varied sections of society during this respect and measures to be adopted.
The panel also will check out the other suggestions which will be necessary given the present situation. The committee will submit its report within one week. SBI will provide secretarial support to the panel and it’s going to consult banks or other stakeholders, as deemed necessary, the statement added.

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