Resolution Framework for Covid-19-related stress

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2 replies
    M RAVI KUMAR says:

    Dear Sir,

    I refer to RBI’s Resolution Framework for COVID-19 Related Stress dated 06.08.2020. In this regard, I request you to clarify whether an existing restructured standard advance as on 01.03.2020 (DPD is less than 30 days) is eligible for taking up Resolution Plan under RBI’s “Resolution Framework for COVID-19 Related Stress dated 06.08.2020” without asset classification downgrade.

    Kindly clarify keeping the RBI’s IRAC Norms in view.

    • Siddarth Goel
      Siddarth Goel says:

      The asset classification of an asset restructured under the Prudential Framework, may be upgraded to ‘standard’, on fulfillment of conditions as specified under the Prudential Framework and the Resolution Plan. An account which has been upgraded to ‘standard’ post restructuring under Prudential Framework and continues to fulfill the eligibility criteria under the ‘special window’ can be restructured under such special window.


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