The Reserve Bank of India (RBI) has modified the definition of sickness and a procedure for assessing the viability of sick Micro and Small Enterprises (MSEs). According to a notification issued by the RBI on Thursday “a MSE is considered sick when any of the borrowal account of the enterprise remains NPA for three months or more or there is erosion in the net worth due to accumulated losses to the extent of 50% of its net worth.”..........
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