RBI officials to meet bank chiefs on SDR, 5/25 scheme

The meeting is likely to be a stock-taking exercise on cases where strategic debt restructuring (SDR) and 5/25 refinancing have been invoked over the past few quarters, the newspaper adds.

Top officials of the Reserve Bank of India (RBI), including governor Raghuram Rajan, will meet bank chiefs on Monday to assess the progress and implementation of stressed-asset management schemes, reports a business daily.

The meeting is likely to be a stock-taking exercise on cases where strategic debt restructuring (SDR) and 5/25 refinancing have been invoked over the past few quarters, the newspaper adds.

The meeting is a follow-up to last week's meeting between the RBI and chief general managers (CGMs) of top banks, according to the daily.

In that meeting, the RBI had asked for information about cases where SDR and 5/25 refinancing have been invoked.

It had also mentioned some companies where the classification of loans is not uniform across banks, reports the paper.

The meeting on Monday comes amid some doubts about the manner in whhich schemes like SDR and 5/25 refinancing are being used, says the daily.

According to a foreign investment bank, loans worth nearly Rs. 57,000 crore are being discussed by banks under the SDR scheme.