FinanceInFocus

RBI Extended Deadline for NBFCs to Adhere New NPA Norms

Earlier the regulator had set March 31 deadline for non-bank lenders to upgrade NPAs only after all arrears and principal dues are paid.

Sharing is caring!

The Reserve Bank of India extended the timeline by six months for Non-Banking Financial Companies to adhere to the new NPA recognition norms.

Earlier the regulator had set March 31 deadline for non-bank lenders to upgrade NPAs only after all arrears and principal dues are paid.

It said that NBFCs will have time till September 30 to put in place the necessary systems to implement this provision.

The RBI also clarified that loans classified as NPA will be upgraded to standard category only if all dues are paid.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: