MUMBAI : The Reserve Bank of India (RBI) on Wednesday allowed banks and non-banks to extend benefits provided to individual customers and small businesses under the covid restructuring framework, which was made available last year.
Small businesses and financial entities at the grass-roots level are bearing the biggest brunt of the second wave of infections,” said RBI governor Shaktikanta Das in his press briefing.
While no blanket moratorium has been provided for covid 2.0, RBI has allowed banks to restructure smaller loans of exposures less than Rs25 crore, which have been standard as on 31 March 2021. Restructuring under the proposed framework may be invoked up to 30 September and will have to be implemented within 90 days after …
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