Equitas SFB expects to recast loans up to Rs 700 crore by December

Total advances restructured under Covid 1.0 and 2.0 stand at just over Rs 1,300 crore, which comprises around 7.5 per cent of gross advances

Equitas Small Finance Bank (SFB) expects to restructure loans worth up to Rs 700 crore till December under the Covid-19 regulatory package.
 

The Chennai-based private lender has guided for restructuring to be Rs 1,500-1,600 crore for those impacted by Covid-19 under the package announced by the Reserve Bank of India (RBI).
 

P N Vasudevan, its managing director and chief executive officer, said the SFB has completed work on loans of Rs 900 crore till July under the second regulatory package. The invocation and completion are to be done by the end of the third quarter.
 

Total advances restructured under Covid