Bombay HC: Insolvency Cannot be Used to Evade a Family Court’s Maintenance Order || Kerala HC: Forklifts and Factory Cranes Are Motor Vehicles and Must be Registered under MV Act || Guj HC: Edible Crude Palm Kernel Oil Qualifies for Duty Exemption; End-Use Condition not Applicable || NCLAT Delhi: Advance under Land-Development MoU is not Financial Debt and Cannot Trigger CIRP || NCLAT: NCLT Cannot Change Capital Structure of a Legally Compliant Successful Auction Purchaser || Supreme Court: Endless Investigation and Long Delay in Filing Chargesheet Can Justify Quashing Case || SC: Landowners Accepting Compensation Settlements Cannot Later Claim Statutory Benefits || Supreme Court: Provident Fund Dues Have Priority over a Bank’s Claim under the SARFAESI Act || Supreme Court: Indian Courts Cannot Appoint Arbitrators for Arbitrations Seated Outside India || Madras HC: Police Superintendent not Liable For IO’s Delay In Filing Chargesheet or Closure Report

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 :