State Bank of India (SBI), the country's largestlender, has decided to extend the RBI-approved moratorium tothe cash-strapped NBFC sector to help them tide over thecrisis.
The RBI has allowed banks to extend moratorium toborrowers of term loans of all kinds for three months --March, April and May.
"Three months moratorium is not going to help as itwill end in May and economic activity is yet to pick up in thecountry," Kanoria told .
"What we basically need is that there should be one-time restructuring of loans of all the borrowers, includingNBFCs, based on their future cash flow," he added.
SBI would extend the moratorium to the Non-BankingFinancial Companies (NBFCs) on a case-to-case basisafter assessing their cash budgets and examining the need forextending it. dcSOM SOM