A one-time restructuring permitted by the Reserve Bank of India saw limited demand in the first month after the provision was announced, according to disclosures made by some banks as part of their quarterly earnings.
The RBI had permitted lenders to restructure accounts without downgrading them to non-performing starting September. The deadline for invoking such restructuring is end-December. The regulator has also mandated disclosure of restructured accounts, which kick-in starting the March 2021 quarter. Ahead of that, some banks have given information on the early pipeline of restructuring. Not all lenders have done so.
State Bank of India has received restructuring requests worth Rs 6,495 crore, it said. This includes Rs 4,000 crore in corporate loans, Rs 1,100 crore in small and medium enterprises loans and Rs 1,300 crore from retail loan borrowers.
Union Bank of India said it has…