Jan 02, 2019 |
, |
7:52AM |
RBI offers relief to MSMEs; allows restructuring of debt up to Rs 25 crore
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Reserve Bank has allowed a one-time restructuring of existing debt of up to 25 crore rupees for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which are facing cash crunch in the wake of demonetisation and GST implementation.
The central bank in a statement said that to facilitate a meaningful restructuring of MSME accounts that have become stressed, the RBI has decided t…
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