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Table of Contents
Answer: The main aim of this resolution framework is to offer a relief to units who otherwise have a better track record, but whose maneuver has been unfavorably affected by the Covid-19 pandemic and their debt burden becoming unequally relative to their cash flow production skills.
Answer: To be eligible under the Resolution Framework, the following conditions need to be fulfilled:
Answer: An Individual or corporate entity required by submitting the following documents:
Answer: The following loans are not covered under this Framework:
Answer: One can submit their request at the Branch where your account is sustained or otherwise contact you’re Relationship Manager and propose your request.
Answer: For loans with collective exposure of Rs.1500 crores or more from the system of banking, the last date for it is 15.November.2020.
For others, the last date to apply for assistance under the resolution Framework is 30th November, 2020 (However, it would be prudent to submit your applications on 15th November.2020).
Answer: If there are numerous lending establishments in a consortium with exposure to the borrower, the declaration process shall be treated as invoke in respect of any borrower if the lending establishment representing 75 per cent by value of the total outstanding loan facilities and not less than 60 % of the lending organization by number agree to invoke the same.
Answer: The Resolution Plan to be put into practice within a period of 180 days from the date of invocation. If the above-mentioned timeline is violated at any point, the resolution process ceases to apply instantly in respect of the borrower’s concerns. Any resolution plan executed in breach of the above predetermined timelines shall be fully administered by the extent Prudential Framework of RBI, as if the process of the resolution was never invoked under this resolution framework for corona virus-related stress.
Answer: The following relaxations /relief accessible are obtainable in case of Term Loan, respect to compliance of norms of bank:
Answers: The following relaxations /relief accessible under the Resolution Framework in a matter of Working Capital Loans, respect to compliance of norms of bank:
Answer: Upfront fee/ Processing fee at the rate of 0.25% of the cumulative limits will be payable.
Answer: Yes, there will be alteration in the pricing to counterbalance the cost of supplementary provisions that the Bank is obligatory to make for extending the reimbursement under this Framework. The pricing under this would be:
Any allowance provided during the period of resolution must result in right of the reward.
Answer: The following additional security will have to be furnished:
Answer: The ratios agreed by RBI that is intended as floors or ceilings, as the case may be.
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