RBI accuses Indian banks of abusing debt restructuring power
The country’s state-owned lenders have been abusing restructuring powers to aid more privileged borrowers, leaving priority-sector and SME companies in the cold. This must change, says the RBI.
The dramatic increase in corporate debt restructuring (CDR) in India is not so much a product of the global downturn as to state-owned banks taking advantage of their power to repeatedly restructure the loans of their more valued clients, according to the Reserve Bank of India (RBI).
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