Which of the following statements is/are correct with reference to the Reserve Bank of India?
A. Individuals, borrowers and MSMEs with aggregate exposure up to Rs. 25 crore, who have not availed restructuring under any previous frameworks, who were classified as standard on 31 March, 2021, will be eligible to be considered under Resolution Framework 2.0.
B. Restructuring under new framework can be invoked till September 30, 2021 and will have to be implemented within 90 days after invocation.
C. Both A & B
D. None of these
Explanation:
The Reserve Bank of India (RBI) announced several measures to protect small and medium businesses, individual borrowers from the adverse impact of the intense second wave of COVID-19 across the country. Individuals, borrowers and MSMEs with aggregate exposure up to Rs. 25 crore, who have not availed restructuring under any previous frameworks, who were classified as standard on 31 March, 2021, will be eligible to be considered under Resolution Framework 2.0. Restructuring under new framework can be invoked till September 30, 2021 and will have to be implemented within 90 days after invocation.
