Says work on development institution on, will go for reciprocity in trading arrangements

1. In talks with RBI to extend moratorium, restructure loans: FM Sitharaman
Finance minister Nirmala Sitharaman on Friday said that her ministry is working with the
Reserve Bank of India on extending the moratorium on loan repayments or restructuring the
borrowings.
She said this specifically in the context of the demand by the hospitality sector. "I fully
understand the requirements of the hospitality sector on the extension of the moratorium or
restructuring. We are working with RBI on this," she said while addressing members of the
industry chamber Ficci.
She also said that the work is going on setting up of the development finance institution. "What
shape it will take, we will know shortly," she added.
Earlier, RBI governor Shaktikanta Das had said that industry must find new ways to fund
infrastructure projects as banks struggling with bad loans would not be albe to fund them.
The finance minister also emphasised on reciprocity of trading arrangements with countries with
which India has opened up.
"Reciprocity is a very critical point in our trade negotiations," she said.
Sitharaman also said banks cannot refuse credit to MSMEs covered under emergency credit
facility. "If refused, such instances must be reported. I will look into it," she said.