Resolution of COVID-19 related stress of individuals and Small Businesses

On June 4th, 2021, the Reserve Bank of India issued the following notification:

Individuals who have availed of loans and advances for business purposes and to whom the lending institutions have aggregate exposure of not more than Rs. 25 crore as on March 31, 2021

and

Small businesses including those engaged in retail and wholesale trade, other than those classified as MSMEs and to whom the lending institutions have aggregate exposure of not more than Rs. 25 crore as on March 31, 2021

are eligible borrowers for Resolution. It has been decided to increase exposure from Rs. 25 crore to Rs. 50 crore.