Question

What is the new deadline to restructure the accounts of MSMEs, as per the recent announcement of RBI?

[A] March 31, 2020
[B] March 31, 2021
[C] December 31, 2020
[D] March 31, 2022

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Answer 1

❣HEYA MATE ❣

YOUR ANSWER IS OPTION

C.....December 31, 2020.....

In the recent Monetary policy committee statement released by the Reserve Bank of India, it extended the deadline for one-time restructuring of GST-registered MSME borrower account to December 31,2020. The restructuring was to be implemented before March 31, 2020, as per the RBI’s earlier guidelines. It also announced that scheduled commercial banks can deduct the credit disbursed as retail loans for automobiles, housing and MSME loans from their net demand and time liabilities (NDTL) for CRR maintenance.

Answer 2

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What is the new deadline to restructure the accounts of MSMEs, as per the recent announcement of RBI?

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Option[C].

December 31 2020

The restructuring under the scheme has to be implemented latest by December 31, 2020. “This will benefit the eligible MSME entities which could not be restructured under the provisions of the circular dated January 1, 2019 as also the MSME entities which have become stressed thereafter,” RBI said.

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