The government has constituted an expert committee to make an overall assessment of providing relief to bank borrowers. The panel consists of three members – former CAG chairman Rajiv Mehrishi, Former Professor of IIM-A and ex-member of RBI's Monetary Policy Committee Dr Ravindra Dholakia, and Former SBI and IDBI Bank MD B Sriram.

The committee will assess concerns raised during the proceedings of the ongoing hearing in the Supreme Court regarding the impact of interest waiver and waiver of interest on interest, and other related issues.

The committee will give its suggestions to mitigate financial constraints of various sections of society and measures to be adopted in this regard. They will also give suggestions that maybe necessary given the current pandemic.

The State Bank of India will give secretarial support to the committee, which may consult other banks and shareholders if necessary.

The committee will submit its report within a week, the Finance Ministry said.

First Published:Sept 10, 2020 9:03 PM IST