Currently, RBI has permitted banks to extend the DCCO in respect of loans to commercial real estate projects delayed for reasons beyond the control of promoters by additional one year, over and above the one-year extension permitted in normal course, without treating the same as restructuring.
"It has now been decided to extend a similar treatment to loans given by NBFCs to commercial real estate," RBI Governor Shaktikanta Das said while addressing the media via video conference.
The move will provide relief to non-banking financial companies (NBFCs) as well as the real estate sector, he said.
The governor also announced a slew of measures to support the economy which has been affected due to disruptions on account of COVID-19.
