TMI BlogRestructure of Loan to Textile Sector.X X X X Extracts X X X X X X X X Extracts X X X X ..... Restructure of Loan to Textile Sector. - News and Press Release Dated:- 8-8-2012 - News - Press Information Bureau Government of India Ministry of Finance 08-August-2012 18:20 IST Restructure of Loan to Textile Sector An assessment study made by BOB Capital Markets indicated that loans of Rs.35,000 crore of Textile Units may have to be restructured by banks. Thereafter, the G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... overnment has advised all Public Sector Banks to set up a separate window for considering restructuring proposals from eligible borrowers in the textile industry on case-to-case basis. Reserve Bank of India (RBI) after examining the above mentioned study has opined that there is no need for any special regulatory dispensation and banks can provide two year moratorium on term loans and convert work ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing capital into working capital terms loans with repayment period of 3-5 year as part of restructuring in terms of existing RBI guidelines. Master Circular dated July 2, 2012 issued by RBI on Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances inter-alia stipulates prudential guidelines on restructuring of advances. The restructuring of the deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t for the textile sector by banks has not financial burden on the Government. No time line has been prescribed for the said restructuring. This information was given by the Minister of State for Finance, Shri Namo Narain Meena, in written reply to a question in Lok Sabha today. * * * DSM/RS/Hb - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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