By CNBC-TV18 Apr 17, 2020 11:45:59 AM IST (Updated)
Follow real-time updates on Union Budget 2023Catch exclusive videos on Union Budget 2023 from CNBC-TV18
The Reserve Bank of India (RBI) on Friday allowed the 90-day moratorium period to be excluded from the classification of non-performing assets (NPAs).
The Reserve Bank of India (RBI) on Friday allowed the 90-day moratorium period to be excluded from the classification of non-performing assets (NPAs).
Recommended Articles
View All
Budget 2023: From improved GST structure to inverted duty reforms, the EV sector want a mega growth push
Jan 31, 2023 IST3 Min(s) Read
India's Economic Survey shifts the narrative to 'quality of life'
Jan 31, 2023 IST3 Min(s) Read
Budget 2023: Prioritising defence and innovation
Jan 31, 2023 IST4 Min(s) Read
Budget 2023—ESOP tax incentives drive start-up growth
Jan 31, 2023 IST6 Min(s) Read
“Due to the challenges of resolutions of accounts, period of resolution will be increased by (further) 90 days. Extension of resolution timeline for large accounts under default, additional provisioning of 20 percent is required for not implementing resolution in 180 days,” RBI Governor Shaktikanta Das said.
On March 27, the central bank had announced a three-month moratorium on term loans whose installments were due between March 1 and May 31.
Scheduled commercial banks and other financial institutions are to make additional 20 percent provision. Relaxing additional 20 percent will be provisioned under June 7 circular.
Non-banking finance companies (NBFCs) can grant relaxed NPA classification to their borrowers, Das added.
First Published: Apr 17, 2020 11:26 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!