The industry expects the debt restructuring decision to be implemented quickly

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Mumbai, Ta. 07 August 2020, Friday

India's debt-ridden companies expect the decision to set up a special committee headed by former banker KV Kamath to resolve one-time debt restructuring and corporate and personal loans soon. As the moratorium closes at the end of this month, there is a growing sense that one-time debt restructuring will be a major relief for corporate and individual loanholders.

Companies in various sectors including airlines, hotels, travel and tourism, real estate, media are expected to be plunged into a severe financial crisis. The nationwide lockdown due to Corona has had a serious impact on the cash flow of these companies.

We expect the restructuring decision to be implemented by the end of August. A spokesman for an airline said it was important to speed up the restructuring of loans if layoffs were to be stopped and companies were to be sustained.

All types of borrowers have come under financial strain due to Covid-18. Even well-meaning companies with a good loan repayment record are facing problems in cash repayment, said Reserve Bank Governor Shaktikant Das after a monetary policy review meeting on Thursday.

In addition to restructuring loans, lower interest rates will help companies resume their operations. Corona has disrupted trade. The biggest relief from the restructuring will be to the real estate sector.

Corona has had the most serious impact on the real estate sector. The country's Index of Industrial Production (IIP) was negative at 7.50 per cent in May, which gives an idea of ​​the impact Corona has had on the country's industries.

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