Debt-recast scheme: CEOs want simpler and corporate friendly norms

CEOs say scheme should also be offered to companies that fell into crisis before Covid

Indian companies under the moratorium have sought a less rigorous debt recast programme, saying the central bank’s move will bear fruit only if lenders collaborate and agree on the package negotiated by the regulator.

This comes a day after the Reserve Bank of India (RBI) announced the one-time debt restructuring scheme.

“The devil is in the detail. The other issue is on banks’ attitude, because some of them are hostile, obtuse, and inward-looking while others are forthcoming,” said an executive of a hotel company, which saw its cash flow reduce to zero in April.

On Thursday, the RBI allowed Indian