News > FM asks banks to come up with possible solutions for tourism and hospitality industry

FM asks banks to come up with possible solutions for tourism and hospitality industry

The Outreach | 27/02/2022 04:36 PM | Click to read full article

The Union Finance Minister, Nirmala Sitharaman, has reportedly directed banks to come up with possible solutions for the tourism and hospitality sector by Friday. Banks have also been asked to take cognizance of various demands of the sector and report back on them, say sources.

Industry recommendations that were put on the table, include discussions on ECLGS (Emergency Credit Line Guarantee Scheme), moratoriums, one-time restructuring of loans, single-window clearances, and granting of infrastructure and industry status.