 "RBI")
In view of the surging coronavirus (Covid-19) second wave which has resulted in lockdowns in several states, the Reserve Bank of India (RBI) has swung into action after banks indicated mounting asset quality pressures. Central bank Governor Shaktikanta Das made an unscheduled announcement on Wednesday in which debt restructuring was allowed for individual and small borrowers who had not availed a similar scheme announced last year when the Covid-19 pandemic first broke out.
Termed Resolution Framework 2.0, the scheme allows individual and MSME borrowers of upto Rs 25 crore to avail a debt recast. The debt restructuring scheme must be invoked
