Thursday, December 15, 2016

RBI gives borrowers 60 more days to repay loans

The Reserve Bank of India (RBI) allowed banks, non-banking financial companies (NBFCs) and district central co-operative banks to retain the 'standard' asset classification on loans of up to R1 crore for another 60 days from the date it would have turned non-performing. This relaxation will be applicable to home loans, farm loans and working capital loans, among others. 

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