No need to extend timelines for recast loans, says Axis Bank top exec

The deadline has already been extended once, and if the borrowers are not able to meet the parameters, banks are required to classify the loans as "non-performing"

Axis Bank does not see the need to extend timelines for meeting operational parameters for corporate loans restructured under the regulatory package to tackle the impact of Covid-19.

Rajiv Anand, deputy managing director (designate), Axis Bank, said there has been talk by some banks on extending timelines. But Axis does not see the need for such a move. Anand said at a media briefing that the restructured book in Axis Bank’s portfolio is small and that the lender is performing up to expectations. 

Its restructuring in wholesale book is Rs 1,521 crore as of September 2021. Banks have made a case for