Resolution Framework 2.0: Resolution of COVID-19 stress for Individuals and Small Businesses (other than MSME)
RBI vide notification DOR.STR.REC.11/21.04.048/2021-22 dated 05.05.2021 issued guidelines on Resolution Framework – 2.0: Resolution of Covid-19 related stress of Individuals and Small Businesses (other than MSME).
The following are the policy guidelines adopted by Bank with regard to implementation of the Resolution Framework 2.0 as per the Board approved policy of the Bank. (Personal Loans and Small Business Loans).
Resolution framework 2.0 Norms
Eligibility as per resolution
1. Individual (Personal) Loans: The Resolution Framework 2.0 is applicable to Individuals who have availed Personal Loans from the Bank. Personal loans as defined in the Circular DBR.No.BP.BC.99/08.13.100 /2017-18 dated January 4, 2018 on “XBRL Returns – Harmonization of Banking Statistics”, which is as under; Personal loans refer to loans given to individuals and consist of
*Consumer credit refers to the loans given to individuals, which
The Resolution Framework 2.0 is not applicable to loans/ credit facilities sanctioned by the Bank to its own staff / personnel.
2. Individual Loans for business purposes: Individuals who have availed of loans and advances for business purposes and to whom the lending institutions have aggregate exposure of not more than Rs.25 crore as on March 31, 2021.
3. Small Business Loans: Small businesses, including those engaged in retail and wholesale trade, other than those classified as Micro, Small and Medium enterprises as on March 31, 2021, and to whom the lending institutions have aggregate exposure of not more than Rs.25 Crore as on March 31, 2021.
Disposal of application
Decision on the application shall be communicated in writing to the applicant within 30 days of receipt of application.
Implementation of Resolution
The resolution plan should be implemented within 90 days from the date of invocation.
Moratorium Period allowed.
Maximum Two years.
Extension of Loan Tenor
Extension of Resolution Framework 1.0
Contact Email id for grievance
Please contact base Branch for further details.