Restructuring can't be a bandwagon for those not impacted by COVID crisis: NS Vishwanathan

Former RBI Deputy Governor NS Vishwanathan, in an interview with CNBC-TV18, on Thursday said tight restructuring should target only those impacted by COVID-19 pandemic and restructuring can't be a bandwagon for those not impacted by the pandemic.

On Indianomics’ special series “Money Matters’, CNBC-TV18’s Latha Venkatesh spoke to Former RBI Deputy Governor NS Vishwanathan on how Reserve Bank of India should shape moratorium, loan restructuring and what impact it can have on the economy and the banking sector.

He was in-charge of banking regulations during the period of asset quality review (AQR); he was the one who drew up the list of 40 large defaulting groups like Essar and Bhushan, which were sent to the bankruptcy courts. Vishwanathan is also co-author of the February 12 circular and he also masterminded the discussion paper on governance in private sector banks that caps tenures of professional and promoter CEOs.