All banks have been advised to stop debiting loansgranted to small and medium scale industrialists.Accordingly, the Ministry of Finance announced that the President and the Prime Minister have instructed the Chairmen and Chief Executives of all banks to suspend the collection of loans, not exceeding 300 million rupees.
The recovery of loans has been halted as part of a program implemented by thegovernment to encourage small and medium scale entrepreneurs.
A scheme to provide relief to the banks in respect of loans granted by banks is also to be implemented.