Following the announcement of various measures by the RBI Governor on 22 May 2020 (refer KM Update below), the RBI has issued the following notifications giving details of the reliefs provided:

• Covid-19 Regulatory Package providing for rescheduling of payments for Term Loans and Working Capital Facilities(extension of moratorium/deferment by a further period three months from 1 June 2020 to up to 31 August 2020, Easing of Working Capital Financing, status quo of asset classification.

• Review of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets

• Large Exposures Framework – Increase in Exposure to a Group of Connected Counterparties from 25% to 35% of the eligible capital base of the bank.

• Relaxations in VRR for FPI investments in debt : FPIs that have been allotted investment limits between January 24, 2020 (the date of reopening of allotment of investment limits) and April 30, 2020, are allowed an additional time of three months to invest 75% of their Committed Portfolio Size (CPS). For FPIs that avail of the additional time, the retention period for the investments (committed by them at the time of allotment of investment limit) would be reset to commence from the date that the FPI invests 75% of CPS.

• Pre-shipment and Post-shipment Export Credit – Extension of Period of Advance

• Import of goods and services- Extension of time limits for Settlement of import payment

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