PNB chief hopeful of RBI allowing one-off loan restructuring by October

Punjab National Bank Managing Director S S Mallikarjuna Rao on Monday expressed hope that the Reserve Bank will unveil by October its loan restructuring mechanism for some sectors severely hit by the Covid-19 pandemic.

Rao also said that the normalcy is still too far which is making it difficult to assess the situation of companies in terms of cash-flows.

"We have requested RBI to permit restructuring. Bankers together have requested, through Indian Banks' Association (IBA), to RBI that you need to look at a one-time restructuring in all these accounts so that bankers will undertake the restructuring properly by analysing