Covid 19 has badly damaged finance of Industry and business. To deal with such a grim situation banks are offering loans on most liberal terms and also deferreing recoveries. The tag deals with related issues.

COVID 19 - FINANCE Synergy Insolvency

Loans to stressed MSMEs will be recast till December 2020: RBI

After a nudge by the Union Budget, the Reserve Bank of India (RBI) has decided to extend the benefit of one-time restructuring without an asset classification downgrade to standard accounts of GST registered MSMEs that were in default on January 1, 2020. The move will benefit the eligible MSME entities which could not be restructured under the […]

COVID 19 - FINANCE Synergy Insolvency

Covid-19 relief: SBI relaxes payment timeline for one time settlement

State Bank of India (SBI) has extended the timeline for payment of settlement amount under its one-time settlement scheme by three months. Now, customers on board the scheme, SBI OTS 2019 / Rin (Loan) Samadhan 19-20 / General compromise, can meet payment obligation by June 30, 2020. Under One Time Settlement (OTS) 2019, the extension […]

COVID 19 - FINANCE Synergy Insolvency

SIDBI to provide emergency working capital of up to Rs 1 crore to MSMEs

The Small Industries Development Bank of India – SIDBI has said that it will provide emergency working capital of up to one crore rupees to small and medium enterprises(MSMEs) against their confirmed government orders. The SIDBI Assistance to Facilitate Emergency response against Corona virus – SAFE PLUS will be offered collateral free and disbursed within […]