a) RBI vide circular no. RBI/2019-20/245 DOR.No.BP.BC.72/21.04.048/2019-20dated May 23, 2020 has provided extension of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets.
b) In respect of accounts which were within the Review Period as on March 1, 2020, the period from March 1, 2020 to August 31, 2020 shall be excluded from the calculation of the 30-day timeline for the Review Period. In respect of all such accounts, the residual Review Period shall resume from September 1, 2020, upon expiry of which the lenders shall have the usual 180 days for resolution.
c) In respect of accounts where the Review Period was over, but the 180-day resolution period had not expired as on March 1, 2020, the timeline for resolution shall get extended by 180 days from the date on which the 180-day period was originally set to expire.
d) The entire circular can be accessed on RBI website.
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