India’s central bank throws a lifeline at debt-hit small businesses

Jan 02, 2019 - Quartz

India’s central bank has doled out a new year’s gift to the country’s small enterprises reeling from the double whammy of demonetisation and the goods and services tax (GST).

The Reserve Bank of India (RBI) yesterday (Jan. 01) said it has allowed lenders to restructure certain loans granted to micro, small, and medium enterprises (MSME), provided the total debt does not exceed Rs25 crore and the loans are still “standard.”

A standard asset is a stressed loan not yet classif...