RBI to announce new framework for debt restructuring soon: Srcs

With banks failing to resolve stressed assets via strategic debt restructuring (SDR), sources have told CNBC-TV18 that the Reserve Bank of India (RBI) is framing new guidelines to deal with high debt companies in a way that promoters are not ousted.The new guidelines will not enforce change in management control and will be set up to help existing promoters in revival of the company. The new rules will also allow deep restructuring of the debt.RBI is going to keep strict norms for companies to qualify for deep restructuring. So, it is unlikely to allow wilful defaulters to benefit from new debt resolution scheme.Watch video for more.