More COVID-hit businesses may need loan restructuring: Banks to RBI

More COVID-hit businesses may need loan restructuring: Banks to RBI
Even though the central bank had permitted lenders to recast loans for borrowers earlier this month, the facility was limited to loans of up to Rs 25 crore
BusinessToday.In | May 20, 2021 | Updated 13:06 IST
RBI Governor Shaktikanta Das held a virtual meeting with the CEOs of public sector banks (PSBs) on Wednesday
Banks have told the Reserve Bank of India (RBI) that the protracted curbs because of the second wave of the COVID-19 pandemic have resulted in significant stress on businesses and that such companies may need a restructuring of loans.
Even though the central bank had permitted lenders to recast loans for borrowers earlier this month, the facility was limited to loans of up to Rs 25 crore.

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