RBI's new restructuring package for small borrowers: Will it work?

The new restructuring package for small borrowers has little chance of taking off

“Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day,” Mark Twain once said. The witticism means getting the biggest, most important task, done first. Will the Reserve Bank of India’s (RBI’s) new restructuring package for small borrowers turn out to be a case of bankers developing a taste for the amphibious creatures?
 
Rajkiran Rai G, chairman of the Indian Banks’ Association and managing director and chief executive officer (CEO) of the Union Bank of India, believes that “the main purpose of this restructuring package is to provide