Road contractors seek cheap credit
Harried road infrastructure contractors have sought credit at concessional rates from banks.
In a letter to PM Narendra Modi, the contractors also want the quick clearing of outstanding payments and the restructuring of the terms of credit in the the event of default. The sector has been badly affected by the nationwide lockdown on account of the coronavirus.
In the letter to the prime minister, Srei Infrastructure Finance chairman Hemant Kanoria said the central government may consider certain regulatory, liquidity and administrative measures to ameliorate the stress of the concessionaries and contractors in the road infrastructure sector.
