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Is there a time frame within which the banks are required to implement the rehabilitation package for MSME's?

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Krishnan Krishnan
Answered on February 03,2020

Viable / potentially viable MSE units/enterprises, which turn sick in spite of debt re-structuring, would need to be rehabilitated and put under nursing. It will be for the banks/financial institutions to decide whether a sick MSE unit is potentially viable or not. The rehabilitation package should be fully implemented by banks within six months from the date the unit is declared as potentially viable/viable. During this six months period of identifying and implementing rehabilitation package banks/FIs are required to do “holding operation” which will allow the sick unit to draw funds from the cash credit account at least to the extent of deposit of sale proceeds.

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