{"id":13899,"date":"2020-08-11T00:31:48","date_gmt":"2020-08-11T00:31:48","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=13899"},"modified":"2020-08-11T00:31:48","modified_gmt":"2020-08-11T00:31:48","slug":"most-stressed-loans-out-of-recast-ambit-business-news","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=13899","title":{"rendered":"Most stressed loans out of recast ambit – business news"},"content":{"rendered":"

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Stressed loans totalling Rs 5.7 lakh crore may not be eligible for the proposed one-time debt recast aimed at saving borrowers affected by the coronavirus outbreak, three bankers said. These are so-called special mention accounts (SMAs) where repayments were already late by over 30 days on March 1, Reserve Bank of India\u2019s (RBI\u2019s) cut-off date to be eligible for the new scheme.<\/p>\n

While the central bank has allowed a one-time debt recast for SMA-0 accounts\u2014those with payments late up to 30 days\u2014SMA-1 (31-60 days\u2019 delay) and SMA-2 (61-90 days) are not covered.<\/p>\n

Since 8.5% of all loans were non-performing at the end of March, total standard loans in India stood at \u20b994.9 lakh crore. Of the total standard loans, 6.03%, or Rs 5.7 lakh crore, are loans with repayments delayed by 31-90 days and, hence, ineligible for recast under the new norms. <\/p>\n

Recasting them wouldn\u2019t be possible without classifying them as non-performing assets.<\/p>\n

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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stressed loans totalling Rs 5.7 lakh crore may not be eligible for the proposed one-time debt recast aimed at saving borrowers affected by the coronavirus outbreak, three bankers said. These are so-called special mention accounts (SMAs) where repayments were already late by over 30 days on March 1, Reserve Bank […]<\/p>\n","protected":false},"author":1,"featured_media":13900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-13899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/08\/expenses-counting-college-savings-calculator-tuition-education_28ce2632-db5c-11ea-88ef-3d2d7bb3ceb2.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13899"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/13900"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}