The Supreme Court decided that banks and NBFCs are obliged to restructure MSME loans without awaiting applications, following mandates from the Central Government and RBI. This verdict overturns a Bombay High Court ruling, underlining the statutory force of such directions and stressing early intervention to avoid loans turning into NPAs.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.