India: RBI grants easier exit from debt-laden firms
To turn corporate bad loans into performing assets, the Reserve Bank of India has nudged its debt restructuring rules to grant lenders an easier way out of defaulting companies.
The Reserve Bank of India (RBI) on February 25 tweaked its rules on strategic debt restructuring (SDR) by cutting in half the proportion of a defaulting firm’s shares an Indian lender had to divest in the first 18 months after converting debt to equity.
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