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
Trending On Reuters
Surprise Rate Cut
The Reserve Bank of India (RBI) unexpectedly lowered its policy rate for the second time this year on Wednesday, backing a government that is pushing to revive economic growth as inflation cools. Full Article | Video