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Relief for MSME Borrowers registered under Goods and Services Tax (GST)

RBI - RBI/2017-18/129 DBR.No.BP.BC.100/21.04.048/2017-18 - Dated:- 7-2-2018 - RBI/2017-18/129 DBR.No.BP.BC.100/21.04.048/2017-18 February 07, 2018 All banks and NBFCs regulated by the Reserve Bank of India Madam / Dear Sir, Presently, banks and NBFCs .....

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the cash flows of the smaller entities during the transition phase with consequent difficulties in meeting their repayment obligations to banks and NBFCs. As a measure of support to these entities in their transition to a formalised business environm .....

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set in the books of banks and NBFCs subject to the following conditions: i. The borrower is registered under the GST regime as on January 31, 2018. ii. The aggregate exposure, including non-fund based facilities, of banks and NBFCs, to the borrower d .....

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nd January 31, 2018 are paid not later than 180 days from their respective original due dates. v. A provision of 5% shall be made by the banks/NBFCs against the exposures not classified as NPA in terms of this circular. The provision in respect of th .....

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