In view of the continued need to support the viable MSME entities on account of the fallout of COVID19, existing loans to MSMEs classified as 'standard' may be restructured without a downgrade in the asset classification, subject to the following conditions:
i. The aggregate exposure, including non-fund-based facilities, of banks and NBFCs to the borrower does not exceed ₹25 crore as on March 1, 2020.
ii. The borrower’s account was a ‘standard asset’ as on March 1, 2020.
iii. The restructuring of the borrower account is implemented by March 31, 2021.
iv. The borrowing entity is GST-registered on the date of implementation of the restructuring. However, this condition will not apply to MSMEs that are exempt from GST-registration.
Please contact your branch for details.