RBI expands Resolution Framework 2.0 coverage from Rs 25 crore to Rs 50 crore-March 2024-www.financetom.com

RBI expands Resolution Framework 2.0 coverage from Rs 25 crore to Rs 50 crore

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RBI expands Resolution Framework 2.0 coverage from Rs 25 crore to Rs 50 crore

Jun 4, 2021 1:57 AM

The Central Bank has decided to expand the coverage of Resolution Framework 2.0 that was announced early in May, RBI Governor Shaktikanta Das said while discussing the outcomes of the second bi-monthly policy meet for the financial year 2021-22.

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"With a view to enabling a larger set of borrowers to avail of the benefits under Resolution Framework 2.0, it has been decided to expand the coverage of borrowers under the scheme by enhancing the maximum aggregate exposure threshold from Rs 25 crore to Rs 50 crores for MSMEs, non-MSME small businesses and loans to individuals for business purposes," Das announced.

Under the Resolution Framework 2.0 announced on May 5, RBI had reopened the debt restructuring window for individual and MSME borrowers with loans up to Rs 25 crore. It had also allowed banks to reassess the working capital limits for such borrowers as a one-time measure.

In a meeting with the Central Bank in mid-May, banks had asked the regulator to consider allowing restructuring for loans of over Rs 25 crore under the framework.

The RBI's Monetary Policy Committee unanimously voted to keep the repo rates unchanged at 4 percent until necessary to mitigate the impact of COVID-19.

Catch live updates on RBI policy here.

First Published:Jun 4, 2021 10:57 AM IST

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