RBI grants relief to MSME borrowers under GST; Extends time for asset classification

RBI extends relief to MSME borrowers registered under GST; As a measure of support to MSMEs in their transition to a formalized business environment under new regime, RBI decides that exposure of banks and NBFCs to such entities shall continue to be classified as a ‘standard asset’ in their books subject to stipulated conditions; As per the conditions, (i) borrower must be registered under GST regime as on January 31, 2018, (ii) Aggregate exposure including non-fund based...