for people and small businesses impacted by state-wide lockdowns. People, small companies, and micro, small, and medium enterprises (MSMEs) with exposure of up to 25 crore and who did not take advantage of the first round of loan restructuring and whose loans were graded as standard as of March 31, 2021 will be qualified for this second round. According to Mr Das, restructuring under the suggested system can be requested until September 30 and must be completed within 90 days.
Shaktikanta Das, RBI Governor, explained about how the second wave of the pandemic in India has affected the reviving economy and the small-scale businesses. He said, “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…
