Dr. YSR Navodayam
One Time Restructuring of MSME Loans
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One Time Restructuring - Revitalizing MSME's

1. The MSME sector contributes immensely for the economic development of the State and employment creation to the local youth. It is also true that they need lot of credit support from the Financial Institutions and also timely help in times of stress.

2. The Reserve Bank of India in their circular No: RBI/2018-19/100 DBR.NO.BP.BC.18/21.04.048/2018-19, dated 01.01.2019, with a view to facilitate meaningful restructuring of MSME accounts (MSME as defined in the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006) that have become stressed, RBI has decided to permit a one-time restructuring (OTR) of existing loans to MSMEs classified as ‘standard’ without a downgrade in the asset classification, subject to the following conditions: i. The aggregate exposure, including non-fund based facilities, of banks and NBFCs to the borrower does not exceed Rs. 250 millions as on January 1, 2019. ii. The borrower’s account is in default but is a ‘standard asset’ as on January 1, 2019 and continues to be classified as a ‘standard asset’ till the date of implementation of the restructuring. iii. The borrowing entity is GST-registered on the date of implementation of the restructuring. However, this condition will not apply to MSMEs that are exempt from GST-registration. iv. The restructuring of the borrower account is implemented on or before March 31, 2020.

3. As a first step for supporting and nurturing the growth of MSMEs, the Government of Andhra Pradesh has decided to support and monitor the implementation of One Time Restructuring (OTR) of MSME loans scheme under an umbrella program Dr. Y.S.R Navodayam which creates a new ecosystem for MSMEs ensuring that all the eligible MSME units are covered for one time Restructuring of accounts upto 31-03-2020.

4. Special DCCs (District Coordination Committee) and special DIPCs (District Industries Promotion Committee) shall be conducted in all the districts.

5. Formation of District Level Committee: The District Level Committees shall be formed in all the Districts with the following members: i. Chairman: District Collector ii. Convener: Lead District Manager (LDM) iii. Co-convener: General Manager/Joint Director, DIC concerned iv. Controlling Authorities of Banks & NBFCs operating in the Districts. District level committee shall meet once in every month to monitor for the effective implementation to cover all the eligible units under this scheme.

6. Constitution of District Cell under the General Manager, District Industries Centre, Lead District Manager and representatives of all operating Banks and NBFCs in the district, industry associations. (who are members of the DIPC in the district). a. The members of District Cell shall meet at least once in a month. b. Key functions of District Cell will be awareness creation, daily coordination, monitoring of the progress and provide all necessary support to the entrepreneurs for accessing the scheme. c. District Cell will also obtain the branch wise and bank wise eligible units / accounts in the district and focus on One Time Restructuring (OTR) duly designating two days of a week (Wednesday and Friday) for this important purpose till all the eligible accounts are restructured. d. The MSME cells in the DICs, through the IPOs/ADs/DDs shall provide handholding support to all the restructured units for a period of 9 months to stabilize the accounts by giving all necessary support.

7. The Government have decided to provide support by reimbursing 50% (not exceeding Rs.2,00,000/- (Two Lakhs) per account) of the auditor’s fee for preparation of Techno Economic Viability (TEV) report, wherever such report is applicable, for the cases restructured by the banks under OTR. The Commissioner of Industries, GoAP, Vijayawada is requested to provide additional guidelines in consultation with the SLBC, Andhra Pradesh, w.r.t. fixing the range of the amount payable as auditor's fee for preparation of the Techno Economic Viability Report by duly prescribing rational & appropriate criteria, so that there is no scope for any discrepancy