These accounts get another 30 days of the review period and another 6 months to repay. The borrower can repay on the 179 th or the 180th day without a resolution plan and make the account standard. For term loans, the review period of 30 days begins from the first day of default and for working capital loans the review period starts after a 30-day default. "The new circular has taken into consideration the banker's issue in implementing the resolution plan. We are now allowed to have a resolution plan outside the bankruptcy court which is a positive development.

Source: dna June 09, 2019 23:26 UTC