The guidelines gradually evolved in tune with the changing dynamics of the financial and real markets by taking into account the international best practices, recommendations of various committees and feedback from the stakeholders. CDR is a specialised institutional arrangement for restructuring of large credit exposures of multiple banks to corporates. 9.
The need for such a specialised institutional mechanism arose in the background of difficulties faced by banks while restructuring their large exposures involving more than one lender, under consortium/multiple banking arrangement.