The Reserve Bank of India (RBI) has no plans to introduce sectoral packages for extending relaxations in corporate debts restructuring (CDR) as demanded by the industry in view of the current and global economic conditions, said Chief General Manager Deepak Singhal at an ASSOCHAM event. While addressing a 'Seminar on Restructuring of Corporate Debts' organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Singhal, chief general manager, DBOD-CO, RBI, informed that RBI has constituted a high power committee of two Dy. Governors, K C Chakrabarty and Anand Sinha to speak to the CMDs of all the banks to know the problems faced by SMEs and suggest to arrest the rising sickness in the SME sector. The committee is likely to submit its report by end of the November...........
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