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SBI seeks flexibility in lending rules by RBI

SBI seeks flexibility in lending rules by RBI

The State Bank of India (SBI) has urged the Reserve Bank of India (RBI) to allow flexible lending rules including restructuring loans given to existing projects in line with revised cash flows available for debt refinancing. In a communication to RBI Governor Raghuram Rajan, SBI Chairperson Arundhati Bhattacharya has said that the 5/25 scheme should be extended to existing projects so as to relieve the financial stress.

The SBI, which had an exposure of Rs 2,919 crore to the power sector as of June, is concerned that the recent order on coal block de-allocation and closure of 26 mines will impact power and metals industry.

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