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RBI aligns NBFC loan restructuring rules with banks
January 23, 2014 / 1:37 PM / 4 years ago

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.

A worker cleans the stairs of the Reserve Bank of India (RBI) building in Kolkata December 18, 2013. REUTERS/Rupak De Chowdhuri/Files

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

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