Relief for debt-laden cos as RBI dilutes circular

Banks now have more leeway in dealing with defaulters with the RBI coming out with a diluted version of its February 2018 circular on defaulting companies which was struck down by the Supreme Court. The new norms, which apply to borrowers with loans of over Rs 2,000 crore, give relief on the “one-day default” rule and allow banks full flexibility to restructure a loan.

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