Loan restructuring right or wrong

Reserve Bank of India, has permitted the loan borrowers to avail the loan restructuring option.  Here a question arises as to whether one should opt for loan restructuring or not and what are the consequences.  The implications are:

1. The delayed payment would mean extension of the loan period and thereby availing fresh loan would again get delayed.
2. The Credit score would obviously get affected if the loan period is extended.
3. Hence it is advocated that a loan restructuring option can be availed only if one fails to repay the EMIs due to a loss of job or income necessitated by the Covid-19 pandemic. The loan restructuring would also be associated with additional charges and involve more interest due to extended loan tenure.

Here is an excerpt from Financial Express.