RBI ISSUES FRESH NORMS FOR LOAN RESTRUCTURING MECHANISM.

The Reserve Bank of India has revamped the norms for restructuring advances, including non-industrial credit. Now, the non industrial companies can also use the corporate debt restructuring mechanism (CDR). The new regulations harmonize the prudential norms across all debt restructuring mechanisms. “Since the principles underlying the restructuring of all advances are identical, the prudential regulations too need to be aligned in all cases.”