 "RBI gives NBFCs more time to restructure commercial real estate loans")
Nearly two months after allowing banks some breather to restructure their exposure to commercial real estate projects, the Reserve Bank of India (RBI) on Friday extended this relaxation to non-banking financial companies (NBFCs) as well.
Accordingly, for loans to be eligible for restructuring, the date of commencement of commercial operations has been extended by a year for commercial real estate projects delayed for reasons beyond the control of promoters. Loans to such projects, including housing and commercial, will now be classified as standard assets by NBFCs. For real estate players, too, it brings significant relief.
Kamal Khetan, chairman and managing director of
