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RBI relaxes NPA norms for small borrowers

The Reserve Bank of India (RBI) relaxed rules for classifying bad loans (Non-Performing Assets) for small borrowers.The apex bank stated that the relaxation

Sakshi Chaturvedi

Sakshi ChaturvediBy Sakshi Chaturvedi

Published on 22 Nov 2016 4:00 AM GMT

RBI relaxes NPA norms for small borrowers
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Mumbai: The Reserve Bank of India (RBI) relaxed rules for classifying bad loans (Non-Performing Assets) for small borrowers. The apex bank stated that the relaxation will apply to dues payable between November 1 and December 31.

The bank said, “The borrowers may need more time to repay their loan dues after the government withdrew higher-value banknotes.”

Banks and other financiers will get an additional 60 days for recognising certain loans of up to 10 million rupees as substandard, the RBI said in a notification.

Sakshi Chaturvedi

Sakshi Chaturvedi

A journalist, presently working as a Sub-Editor at newstrack.com.

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