MUMBAI: Lenders of troubled NBFC DHFL are scheduled to meet on Monday, seeking a solution for the ₹90,000 crore debt that is owed to them. The debt recast plan will be arrived at as per the RBI's revised circular on resolving asset quality stress, they said. The circular gives lenders a 30-day period since default to arrive at a debt recast plan. The DHFL debt has been downgraded by multiple rating agencies as the stress kept building up, while the company has also deferred announcement of quarterly results last week. The RBI blames the crisis on asset liability mismatches at firms like DHFL, which typically borrowed short for creating long term assets.

Source: Mint June 30, 2019 11:15 UTC