Saturday, February 15, 2014

RBI aligns NBFC loan restructuring rules with banks

The Reserve Bank of India (RBI) said that rules for restructuring loans by non-banking financial companies will be the same as those of banks. The key provisions include that the relaxation or extension of commencement of projects will not amount to restructuring for infrastructure, non-
infrastructure and corporate real estate projects. The central bank also said a special classification benefit will be provided to corporate debt restructuring cases, including small and medium enterprises, until the end of March 2015.

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