 "According to India Ratings (Ind-Ra), banks in India may restructure loans worth Rs 8.4 trillion, or about 7.7 per cent of total credit as of March 2020, to manage the financial stress caused by the Covid-19 pandemic.")
Public sector lender Union Bank of India estimates 6-7 per cent of its loans (over Rs 36,000 crore) maybe restructured under the Reserve Bank of India’s (RBI’s) scheme for borrowers adversely impacted by the Covid-19 pandemic.
Rajkiran Rai G, managing director and chief executive, Union Bank of India, said the bank had conducted an internal exercise. These are rough estimates (6-7 per cent) and could change, based on parameters that the K V Kamath Committee will firm up. A clearer picture will emerge after the end of the September quarter.
The restructuring business will be done through three
