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ARTICLE · 02 JUNE 2021

Circular/Notifications Issued By Other Authorities

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In view of the uncertainties created by the resurgence of the Covid-19 pandemic in India in recent weeks, RBI has decided to extend the facility for restructuring existing loans without a downgrade...

IndiaInsolvency/Bankruptcy/Re-Structuring
Manoj Singh
Manoj Singh
Daizy Chawla
Daizy Chawla
Sunaina Jhingan
Sunaina Jhingan
Jatin Kapoor
Jatin Kapoor
Neha Mittal
Neha Mittal
Sandesh Kumar
Sandesh Kumar
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RESERVE BANK OF INDIA ("RBI")

Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs)

In view of the uncertainties created by the resurgence of the Covid-19 pandemic in India in recent weeks, RBI has decided to extend the facility for restructuring existing loans without a downgrade in the asset classification.

A. The above shall be subject to the following conditions:

  1. The borrower should be classified as an MSME as on 31.03.2020
  2. The borrowing entity is GST-registered on the date of implementation of the restructuring.
  3. The aggregate exposure, including non-fund-based facilities, of all lending institutions to the borrower does not exceed INR 25 crores as of 31.03.2021.

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