RBI revises threshold for exposure limits of borrowing in Resolution Framework-2 for MSMEs
In August 2020 RBI, in view of the need to support the MSME entities on account of the fallout of Covid19 and in view of the Resolution Framework for COVID 19 – related Stress permitted that existing loans to MSMEs classified as ‘standard’ may be restructured without a downgrade in the asset classification, subject to the conditions specified.
RBI on 5th May 2021 in view of the coivid-19 situation, further issued circular on Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs).
Clause 2 of the above circular specified the eligibility conditions for MSME accounts to be considered for restructuring under the framework, which inter alia states that the aggregate exposure, including non-fund based facilities, of all lending institutions to the MSME borrower should not exceed ₹25 crore as on March 31, 2021.
However, in view of the prevailing situation and to provide further relief to MSMEs, this above threshold of ₹ 25 crores has now been further enhanced to ₹50 crore.
Invitation For Empanelment Of Practising Chartered Accountants / Chartered Accountant Firms Forest Development Corporation of Maharashtra Limited (FDCM Limited), Nagpur,…
Press Registrar General of India (PGRI) invites application for empanelment of Chartered Accountants. The Press Registrar General of India manages…
CBDT notifies revised Form No. 169 for making application for registration as a valuer under section 514 and authorised income…
Curtailing time to file reply to notice u/s 148A(b) from statutorily available 30 days to 15 days seriously prejudiced assessee’s…
At the stage of registration u/s 12AB, the CIT(E) not empowered to adjudicate applicability of provisio to section 2(15) of…
Flower bed area could not be included in the definition of “built up area” to calculate eligible limit of 1000…