Indian companies under the moratorium have sought a less rigorous debt recast programme, saying the central bank’s move will bear fruit only if lenders collaborate and agree on the package negotiated by the regulator.
This comes a day after the Reserve Bank of India (RBI) announced the one-time debt restructuring scheme. “The devil is in the detail. The other issue is on banks’ attitude, because some of them are hostile, obtuse, and inward-looking while others are forthcoming,” said an executive of a hotel company, which saw its cash flow reduce to zero in ...
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