The Reserve Bank of India on Thursday said the norms for restructuring of advances by non-banking finance companies will be on the same lines as specified for banks.
The major provisions of the RBI’s directions on restructuring of advances include the relaxation that mere extension of the Date of Commencement of Commercial Operations up to a specified period will not tantamount to restructuring for infrastructure, non-infrastructure and commercial real estate projects.
Special asset classification benefit will be made available to corporate debt restructuring and consortium cases, including small and medium enterprise debt restructuring mechanism, apart from infrastructure and non-infrastructure project loans, subject to certain conditions.