The Ministry of Textiles, Government of India, has forwarded a revised proposal to the Reserve Bank of India (RBI), through the Ministry of Finance, for recasting Rs. 1 trillion of loans extended to the textile industry. Last month, the RBI had turned down a Textiles Ministry proposal for restructuring Rs. 1 trillion worth of textile loans, mainly from public sector banks, saying such a step would not be in accordance with the best international practice. Speaking at a buyer-seller meet of the powerloom sector, Textile Commissioner AB Joshi said the Reserve Bank of India (RBI) turned down the first proposal put forward by the Ministry, as it had come within die two-year time period after the 2008-09 recast of loans.
展开▼
