 "debt restructuring, loans, recast, moratorium")
One of the largest loan restructuring exercises in Indian banking history will kick off in September 2020, with banks seeking to restructure Rs 4.5 trillion in loans by March 2021. This is against the backdrop of an unprecedented contraction in the Indian gross domestic product (GDP) in FY21, described as the “worst health and economic crisis in [the] last 100 years,” by the governor of the Reserve Bank of India. To put this in context, banks had restructured Rs 4 trillion loans between 2001 and 2018 under the erstwhile Corporate Debt Restructuring scheme.
Banks will need to make a minimum
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