Image source – Mahindra.com
“The RBI’s announcement on the relief measures for small businesses, individuals, and micro, small and medium enterprises couldn’t have been more timely as the country is fighting a war against Covid -19 pandemic. The individuals, small businesses, and MSMEs, those having aggregate exposure of up to ₹25 crores and have not availed of restructuring under the earlier restructuring frameworks, will be eligible to be considered under Resolution Framework 2.0. It’s an important announcement looking at the present economic landscape, this will provide as an impetus for businesses to recover from Covid -19 pandemic blues. The RBI’s decision to rationalize certain components of the extant KYC norm this will support financial institution to operate in efficient way. With these measures in place, I am confident that as a nation we will emerge much stronger from this pandemic crisis.”
– Mr. Ramesh Iyer, MD & VC, Mahindra Finance
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