India, Jan. 28 -- Ahead of the presentation of the Union Budget 2020-21, largest pure play home financier HDFC on Tuesday pitched for a one-time loan recast for realty projects.
Its Chairman Deepak Parekh said lenders are not able to write new loans for projects because a new borrowing by an entity which is already a non performing asset, becomes an NPA on day one.
The comments come amid difficult times faced by the realty sector, which has forced the government to announce a Rs 25,000 crore fund to push stuck projects.
It can be noted that the RBI has discontinued the practice of loan recast for the last few years, but has created an exception for small businesses after Governor Shaktikanta Das took over.
"We have requested the NHB (Na...