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Resolution Framework 2.0 (Individuals, Small Business & MSME Borrowers) - Policy Guidelines

  • Individuals and Small Businesses who have availed personal loans or business loans
  • Having aggregate exposure not more than Rs.25 crore as on March 31, 2021, from all lending institutions
  • Have not availed of any resolution under the Resolution Framework - 1.0
  • Provided, these credit facilities are classified as Standard as on March 31, 2021.

  • Rescheduling of payments
  • Conversion of any interest accrued or to be accrued into another credit facility
  • Granting of moratorium for a maximum of two years
  • Extension of the residual tenor of the loan facilities, with or without payment moratorium. The overall cap on extension of residual tenor, shall be two years.

  • The borrowing entity should be is GST-registered on the date of implementation However, this condition will not apply to MSMEs that are exempt from GST-registration. This shall be determined on the basis of exemption limit obtaining as on March 31, 2021
  • Aavas shall provide one time facility for restructuring existing loans without a downgrade in the asset classification

  • the asset classification of the borrower's accounts shall be standard
  • Any account, if slipped in to NPA between invocation and implementation, may be upgraded as standard

  • Disclosures to be made as per the prescribed format in financial statements for the quarters ending September 30, 2021 and December 31, 2021
  • The credit reporting of borrowers where the resolution plan is implemented shall reflect the "restructured due to COVID- 19". The credit history of the borrowers shall consequently be governed by the respective policies of the credit information companies as applicable to accounts that are restructured.

  • This framework can be invoked not later than Sep 30, 2021
  • Implementation of Resolution Plan - Within 90 days from date of Invocation