The ongoing Covid-19 pandemic has led to significant financial stress for borrowers across the board. The resultant stress can potentially impact the long-term viability of many firms, otherwise having a good track record under the existing promoters, due to their debt burden becoming disproportionate relative to their cash flow generation abilities. Such widespread impact could impair the entire recovery process, posing significant financial stability risks.
In consonance with the announcement made by RBI (vide its circular on “Resolution Framework for COVID-19-related Stress” DOR.No.BP.BC/3/21.04.048/2020-21 dated August 06, 2020), Piramal Capital & Housing Finance (PCHFL) has framed a Policy approved by the Board to facilitate the customers who request for relief under this framework. Below are few Frequently Asked Questions (FAQs) to answer customers queries towards this purpose: