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What is the timeline for banks to implement the rehabilitation package?

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Sam Sam
Answered on February 17,2020

Viable or potentially viable micro and small enterprise (MSE), which turns sick despite debt re-structuring needs to be rehabilitated and put under nursing by the bank within six months from the date such enterprise is declared viable or potentially viable. It will be for the bank/financial institution to decide whether a sick MSE unit is potentially viable or not.

During the six months period of identifying and implementing rehabilitation package, the bank is required to do a ’holding operation’ that allows 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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