- Is your business adversely affected by the Pandemic ?
- SIDBI can help you tide over these difficult times by restructuring your loan accounts under RBI guidelines for Restructuring of MSME Advances.
Restructuring of MSME Advances under Direct Finance Schemes
- Borrower’s account should have been a ‘Standard Asset’ (not an NPA) as on March 01, 2020.
- Aggregate dues of the borrower across all banks and non-bank companies should not be more than ` 25 crore as on March 01,
- Should have GST registration or willing to apply for GST (not applicable for MSMEs in industries exempted from applicability of GST)
- Borrowers who have
availed deferment in repayment as COVID Relief are also eligible
- Reschedulement of Term Loan accounts (with longer moratorium / longer repayment
period or by reduction of instalment amount).
- Both overdue / future instalments can
- Funding of Interest shall be considered in deserving cases.
- Reschedulement with ballooning instalments also possible.
- Simplified legal documentation
- Option for reschedulement of any one or all live accounts with SIDBI.
- No downgrade in asset classification on account of reschedulement (as per RBI guidelines).