Friday, May 15, 2009

REVIEW OF LENDING NORMS FOR MSEs

The Reserve Bank of India (RBI) has asked banks to review their existing policies for lending to micro and small enterprises (MSEs) and frame norms for restructuring sick units that are potentially viable. RBI also said that banks should frame policies on extension of credit facilities and non-discretionary One-Time Settlement (OTS) schemes for recovery of non-performing loans. The central bank has asked banks to communicate the status by June 30, 2009.

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