Banks can rejig realty loans based on project, not realtor

The Reserve Bank of India (RBI) has permitted banks to restructure loans to real estate companies on the basis of the project rather than the developer. It has also indicated that banks can restructure loans drawn by a borrower during the current fiscal, provided the account was classified as ‘standard’ (not overdue for more than 30 days) as on March 1, 2020.

from Markets-Economic Times https://ift.tt/3j1gzrK