Pool more for CDR, promoters told
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On October 30, RBI had announced decision to raise provisioning on standard restructured assets from 2% to 2.75%. The Mahapatra committee had suggested banks must provide for 5%, against restructured loans that are classified as standard, instead of the current 2%.
The CDR cell had in the current financial year received 83 references to the tune of over R50,000 crore. It received nine new referrals worth R14,100 crore in the month of October. According to ratings agency Crisil's estimates the loans restructured by Indian banks will stand at sharply to R3.25 lakh crore in financial year 2012-13. The majority of restructuring will be in loans to the state power utilities (SPUs), and the construction and infrastructure sectors.
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