Clarification from RBI

By INSOL India - Editorial Team Posted On : October 15, 2020

The Reserve Bank of India by its circular dated October 13, 2020, has clarified that loans which have remained standard without any default as of March 1, 2020, will be eligible for retructuring under the pandemic related resolution framework issued in August 2020.  This also applies to loan accounts that were due with more than thirty days as on March 1, 2020, but were subsequently regularised under the Covid-19 resolution framework.