RBI permits one-time restructuring of existing loans to MSMEs in standard on Jan 1
- Country:
- India
The Reserve Bank of India (RBI) Monday issued norms for restructuring loans defaulted by micro, small and medium enterprises.
The RBI permitted a one-time restructuring of existing loans to MSMEs that are in default but 'standard" as on January 1, 2019, the central bank said in a statement.
To be eligible for the scheme, the aggregate exposure, including non-fund based facilities of banks and NBFCs, to a borrower should not exceed Rs 25 crore as on January 1, 2019. The restructuring has to be implemented by March 31, 2020.
(With inputs from agencies.)
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- Advanced Micro Devices
- Ministry of Micro- Small and Medium Enterprises
- Color scheme
- Scheme of arrangement
- Tatkal scheme
- Bank
- Central bank
- Allahabad Bank
- Reserve Bank of India
- Bank of India
- micro
- MSMEs
- aggregate exposure
- borrower
- scheme
- RBI issues norms
- facilities of banks
- restructuring loans
- default
- one-time restructuring of existing loans
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