RBI unveils debt restructuring plan
Aim is to save viable businesses while letting hopeless cases fail
The Reserve Bank of India has issued details of its loan restructuring plan, which is designed to throw a lifeline to viable businesses struggling with the effects of Covid-19.
The central bank says it “broadly accepted” the proposals of an expert committee formed to judge what constituted a viable business.
The committee, led by former New Development Bank chair KV Kamath, recommends a set of parameters specifying the leverage, liquidity and debt-servicing characteristics of firms eligible
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