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)
Trending On Reuters
Nepali police and local volunteers found the bodies of about 100 trekkers and villagers buried in an avalanche set off by last month's devastating earthquake and were digging through snow and ice for signs of dozens more missing, officials said on Monday. Full Article | Slideshow
- Everest not officially closed to climbers, Nepal says
- Video: Nepalese leave Kathmandu and return to villages
- Monsoons could bring disease, a second crisis, to Nepal - UNICEF
- Insight - Soul-searching over quake ends Everest climbing season
- Video: Relief goods for Nepal quake victims held up, remote areas awaiting aid
Facebook launches open Internet.org platform amid net neutrality debate in India Full Article