Archive for month: February, 2018
Fairly confidential or confidentially fair: IBBI prescribes new rules for valuation of distressed assets
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsHelp in the hour of need: RBI relaxes asset classification norms for MSME accounts
/0 Comments/in Financial Services, NBFCs /by Vinod Kothari ConsultantsBy Abhirup Ghosh(finserv@vinodkothari.com)
The Reserve Bank of India (RBI), on 7th February, 2018[1], has come out with a notification to grant relaxation to banks and NBFCs with respect to asset classification in case of MSME accounts. The notification has been released on the pretext that the due to the implementation of Goods and Services Tax, the cashflows of small enterprises have been impacted severely, thereby hampering their ability to honour their financial obligations.
In this write up we have tried to cover the impact of the notification.