WebSify
Follow us on
Mail
Print

Restructured debt shot up 52% to Rs 2.3 trillion in FY13: RBI

Source : PTI
Last Updated: Sun, Nov 24, 2013 08:43 hrs
RBI

There was a 52 per cent jump in the restructured loan amount under corporate debt restructuring in the past fiscal to Rs 2.29 lakh crore from Rs 1,50,500 crore, according to the latest Reserve Bank data.

"In fiscal 2013, there was a growth of about 37 per cent in the total number of cases approved for restructuring and the debt thus restructured grew 52 per cent, marking a sharp increase over the previous fiscal," according to 'Trends and progress of banking in 2012-13' report of RBI.

As of March 2013, banks restructured 401 accounts worth Rs 2,29,000 crore as against 292 cases worth Rs 1,50,500 crore in FY12.

Iron and steel and infrastructure sectors showed maximum distress. "As of March 2013, iron and steel accounted for 23 per cent of the total restructured debt, while infrastructure (including power and telecom) held an almost comparable share of 22.7 per cent in the total restructured debt," RBI said.

However, the report said during the first quarter of the current fiscal growth in the number of loan restructured cases and the amount of debt recast declined marginally to 34.3 per cent and 48.6 per cent, respectively from the year-ago.

In the first quarter of this fiscal, banks restructured 415 accounts with an aggregate debt of Rs 2,50,300 crore.




blog comments powered by Disqus
most popular on facebook
talking point on sify finance