Notification by RBI, Resolution of Covid-19 related stress of MSMEs.

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Thursday, May 27, 2021

Dear all,

Your association SIMA is forwarding herewith a Notification No. RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22, dated 05/05/2021, issued by the Reserve Bank of India.

Vide the Notification, In the view of the uncertainties created by the resurgence of the Covid-19 pandemic in India in the recent weeks, it has been decided to extend the facility for restructuring existing loans without a downgrade in the asset classification subject to the following conditions:

(I)The borrower should be classified as a micro, small or medium enterprise as on March 31, 2021 in terms of the Gazette Notification S.O. 2119 (E) dated June 26, 2020.

For more details, PLEASE CLICK HERE.

Thanking you,
With Regards,

For Silvassa Industries & Manufacturers Association

Narendra Trivedi
Secretary