RBI aligns NBFC loan restructuring rules with banks
MUMBAI (Reuters) - The Reserve Bank of India (RBI) said on Thursday 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 Reserve Bank of India said in a statement.
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.
(Reporting by Aditi Shah; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
- Google launches new email service dubbed "Inbox"
- Canada's parliament attacked, soldier fatally shot nearby
- Attack on parliament, killing of soldier stun Canada's capital
- China's Xiaomi shifts some smartphone user data out of Beijing on privacy concerns
- Lax security in focus after attack at Canada's parliament
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article