MUMBAI : Reserve Bank of India (RBI) is exploring the option of allowing banks a one-off restructuring of loans, said a senior official aware of the matter on condition of anonymity.
This is one of the suggestions made by the banking industry to help sectors affected by coronavirus and also deal with the stress building up on account of suspension of insolvency proceedings for a year.“The option is on the table… When and in what manner, we have to see.
In fact there were representations that don’t give restructuring, funds will get diverted and moratorium is enough. But there is a lot of demand from the industry.
In certain sectors there is definitely a need like sectors that are hit. Those are more in need. But it has to be for all. But.