The Reserve Bank of India reopened its one-time debt restructuring plan for small businesses and individuals impacted by the lockdowns due to the second wave Covid-19 pandemic. Retail borrowers, small businesses, and small and medium enterprises (MSMEs) having dues up to ₹25 crores and whose accounts are classified as ‘standard’ as of March 31 are eligible for the scheme. Borrowers who have availed the restructuring earlier are not eligible.
“Resurgence of Covid-19 pandemic in India in recent weeks and the associated containment measures adopted at local and regional levels have created new uncertainties and impacted the nascent economic revival that was taking shape. In this environment, the most vulnerable category of borrowers are individual borrowers, small businesses and MSMSEs.”RBI Governor Shaktikanta Das
Read More: Bloomberg Quint