(This story originally appeared in on Sep 04, 2020) MUMBAI: The government has asked banks to obtain board approval for restructuring of corporate loans by September 15 after the K V Kamath-led committee submits its report in the first week. This was communicated to bank chiefs in their review meeting with finance minister Nirmala Sitharaman. … Read more
RBI’s faith in credit rating agencies, despite their dismal track record, is hard to understand. ‘Those who cannot remember the past are condemned to repeat it,’ said George Santayana. Well, the Reserve Bank of India (RBI) seems to have taken the great Spanish writer and philosopher’s warning to heart. The one-time restructuring scheme announced by … Read more
India Ratings expects the provisioning requirement to fall by around 10% on the restructured pool in FY21 from earlier expectations on loans that could have turned bad. Banks may restructure loans worth Rs 8.4 lakh crore, or around 7.7% of the total bank credit at end-March 2020 from the corporate and non-corporate segments under the … Read more