Banks seek revamp of CDR norms to solve bad loans
Monday, March 6, 2017, 1:10 PM
Indian Banks Association, the umbrella body of banks, has approached the Reserve Bank of India (RBI), seeking a revamp of the Corporate Debt Restructuring (CDR) scheme . Banks are now seeking a relaxation of stringent conditions attached to the current norms. Currently, not more than 10 percent of the debt can be converted into equity under the CDR scheme.