SC Condemns Witch-Hunting, Says Superstition Continues to Override Constitutional Morality || SC: Retired Judges Appointed to Central Industrial Tribunals Not Entitled to Pay Parity || SC: Electricity Boards Liable for Electrocution Deaths under Strict, Not Absolute Liability || Supreme Court Criticizes Courts For Conducting ‘Mini-Trials’ in Temporary Injunction Matters || SC: Common Judgment in Suits by Same Plaintiff can be Challenged Through Composite Appeal || Chandigarh Court Orders Meta to Take Down AI-Generated Video of Punjab MLA Sukhpal Khaira || Delhi HC: Insolvency Professionals Must Collect & Deposit GST Even if they are Advocates || Madras HC Rejects Election Petition Challenging Colachel MLA Tharahai Cuthbert || Supreme Court: Uncrystallized Contractual Damages Not an Operational Debt under Section 9 IBC || Supreme Court: Interest Accrued in Suspense Account After NPA Classification is Recoverable as Debt

Credit to MSME entrepreneurs- (Reserve Bank of India) (05 May 2021)

MANU/RMIC/0063/2021

Banking

1. This is with reference to circular DOR.No.Ret.BC.37/12.01.001/2020-21 dated February 5, 2021, on captioned subject.

2. In terms of the above circular, Scheduled Commercial Banks were allowed to deduct the amount equivalent to credit disbursed to new MSME borrowers from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Reserve Ratio (CRR). This exemption was available up to Rs. 25 lakh per borrower for the credit disbursed up to the fortnight ending October 1, 2021.

3. It has been decided to extend this exemption for such credits disbursed up to the fortnight ending December 31, 2021. All other instructions contained in the circular ibid remain same.

Tags : CREDIT MSME ENTREPRENEURS

Share :