The loan restructuring facility will be available only to those small companies which have a loan of up to Rs 25 crore or more. That is, this facility is only for companies in MSME sector.
RBI Governor Shaktikanta Das.
In the midst of continuously deteriorating conditions from Corona, the Reserve Bank of India has made a big announcement for companies taking small loans. Governor Shaktikanta Das of Reserve Bank of India held a press conference at 10 am today and made many announcements for MSMEs. It said that loan restructuring facilities will be provided to small companies taking loans up to 25 crores. That is, all those loan-taking companies can get the benefit of this scheme, which did not take loan restructuring facility last year. With this, those small companies who had restructured loans during the first web of Corona last year, they can extend their tenure for two more years. That is, if someone has taken a loan for 10 years, then the small company taking the loan can get him a loan restructuring for 12 years.
What is loan restructuring?
Suppose a person or company has taken a loan of 15 years. But during this time, if any such financial situation or disaster arises, due to which the loan is not possible to repay, then the lending bank or RBI provides loan restructuring facility. That is, if you are not able to repay the loan in 15 years, then you can repay it in 17 years, 18 years or 20 years through restructuring. However, whether or not you will get loan restructuring facility depends on your bank. Similarly, considering Corona as a national disaster, the RBI has given loan restructuring facilities to customers taking small loans of up to 25 crores. This will benefit those companies whose business has been affected due to Corona.
Can working capital also be found?
The Reserve Bank of India also announced that small companies, which fall under the category of MSME, can also be given the facility of working expenses. But it will depend on the banks to whom this working capital is given, to whom not. Before giving the working capital, the banks will assess the losses incurred by the companies during the Corona epidemic and then this decision will be taken.
Lone morotorium is not mentioned
The most awaited by the common people at the RBI press conference was the Lone Morotorium. However, last time too many people took advantage of the loan morotorium, but this time the disaster is bigger than last year. However, no such indication was given by Governor Shaktikanta Das whether the benefit of loan morotorium will be given in the coming time or not.
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