Banks, NBFCs are bound to adopt a restructuring process for MSMEs without following 2015 framework: SC
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.
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