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PNB chief hopeful of RBI allowing one-off loan restructuring by October

Rao also said that the normalcy is still too far which is making it difficult to assess the situation of companies in terms of cash-flows

S S Mallikarjuna Rao, MD and CEO of Punjab National Bank
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As per norms, Rao said, an account is treated as an NPA (non-performing asset) if it is restructured and provisions have to me made accordingly.

Press Trust of India New Delhi
Punjab National Bank Managing Director S S Mallikarjuna Rao on Monday expressed hope that the Reserve Bank will unveil by October its loan restructuring mechanism for some sectors severely hit by the Covid-19 pandemic.

Rao also said that the normalcy is still too far which is making it difficult to assess the situation of companies in terms of cash-flows.

"We have requested RBI to permit restructuring. Bankers together have requested, through Indian Banks' Association (IBA), to RBI that you need to look at a one-time restructuring in all these accounts so that bankers will undertake the restructuring properly by analysing

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