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Please refer to BPRD Circular Letter No. 4 dated February 17,
2000 wherein certain conditions were laid down for restructured/
rescheduled loans.
It
has been decided with immediate effect that loans granted
by the banks/NBFIs under a Government declared policy and
especially those recommended by the Committee for Revival
of Sick Industrial Units constituted under the Ministry of
Finance Notification No. F.6(13)BKG(R&S)/2000-230 dated
the 3rd May, 2000 for the purpose of reviving a sick industrial
unit will not constitute a part of the outstanding amount
of default. In other words while facilities granted to sick
industrial units prior to the revival shall retain their existing
classification the fresh facilities granted for the purpose
may be kept in a separate account and be monitored from the
date the new facility was granted to the sick units. These
facilities will, however, be subject to the classification
of the outstanding under Prudential Regulation-VIII on the
strength of their specific terms and conditions.
Other
instructions on the subject shall, however, remain unchanged.
Please
acknowledge receipt.
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