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Liquidity support might not be the only solution to the problems faced by the micro, small, and medium enterprises (MSMEs) due to Covid-19, as several firms might need “deep restructuring”, said Rajkiran Rai, managing director and chief executive officer of Union Bank of India.
Speaking at a webinar with members of the Bharat Chamber of Commerce and Industry on Monday, Rai said the Indian Banks’ Association (IBA) had taken up the issue of restructuring with the Reserve Bank of India (RBI).
Last year, the RBI introduced a one-time restructuring scheme for MSMEs with a maximum exposure of Rs 25 crore.
