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News RBI

  • Jul 31, 2015
  • RBI expands loan recast forbearance for NBFCs

    Bringing non-banking finance companies on a par with banks, the Reserve Bank of India (RBI) expanded the scope of forbearance on restructured loans of projects for NBFCs, saying that lenders can classify restructured loans as standard in case a project is stuck for a total six years, provided the final two-year delay is due to a change of ownership.In January, the RBI had allowed NBFCs to classify loans to projects that are stuck for two years as standard even after restructuring them when such recast involves only a change in repayment schedule.

    Source - http://www.financialexpress.com