"However, the stress in the MSME sector has got accentuated on account of the fallout of COVID-19. Recognising the need for continued support to MSMEs’ meaningful restructuring, it has been decided that, in respect of MSME borrowers facing stress on account of the economic fallout of the pandemic, lending institutions may restructure the debt under the existing framework, provided the borrower’s account was classified as standard with the lender as on March 1, 2020. This restructuring shall be implemented by March 31, 2021," RBI said in a press release.

Fibre2Fashion News Desk (RKS)