The country's banks have raised Rs. Wiki to restructure two trillion loans

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Mumbai, Ta. 23 September 2020, Wednesday

The country's banks are likely to restructure loans worth Rs 2 trillion. Due to the economic impact of Covid-12, many borrowers are not able to repay their loans on time.

The estimates by SBI include loans from the corporate, MSME and retail segments. Of the total restructuring of Rs 2 trillion, SBI is expected to restructure its loans to the tune of Rs 20,000 crore, SBI chairman Rajneesh Kumar told a banking webinar, bank sources said.

Earlier, a rating agency had estimated that loans of Rs 2.50 trillion could be reclaimed. Demand for restructuring is also currently low, given the rapid recovery in the economy following the easing of the lockdown.

SBI expects some large corporates with loans of over Rs 1,200 crore to take advantage of the loan recast. Many companies have overcome their financial weaknesses and delivered their books. Companies are also hoping that they will not be labeled as restructuring.

The most severely affected areas in the country due to corona include aviation, hotels, real estate and retail. The real estate sector has been struggling for the last four-five years and Corona has made their situation worse. Economic recovery requires a strong financial system.

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