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 || Supreme Court: S.69 GST Arrest Order with “Reasons to Believe” Must Precede Arrest || Supreme Court: Winding-Up Proceedings Period Cannot be Excluded under Section 14 Limitation Act || Supreme Court: Separate Appeals Unnecessary Against Common Judgment on Suit and Counterclaim || Supreme Court: Unsuccessful Party Can Seek Post-Award Section 9 Relief in Exceptional Cases || Delhi HC Rejects Black Money Act Challenge, Imposes Rs. 60,000 Costs over Prosecution Avoidance || Delhi HC Affirms Teacher's POCSO Conviction, Urges Schools to Encourage Children to Speak Up || Kerala HC: NGO Funding Peaceful Protests Can't Justify FCRA Renewal Denial || Delhi HC: Courts Cannot Judge Sufficiency of Material For Issuing Look Out Circular

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 :