RBI directs banks to reclassify MSMEs as per the revised criteria

The Reserve Bank of India vide its notification dated 2nd July 2020 has directed banks, financial institutions, and NBFCs to reclassify micro, small and medium enterprises on the basis of the new criteria.

RBI declares Distressed Assets Fund to be Subordinate Debt for Stressed MSMEs

The Reserve Bank of India vide circular dated 1 July, 2020, has allowed banks to consider the funds infused by the promoters in their MSME units through loans availed under the distressed assets fund as …

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