31st August 2020

The Managing Directors/CEO's/Owners/Director/Partners/General Managers        
All FHRAI Members

CC:      All Members of the Executive Committee
             All Regional Associations          

Subject: No Extension of Moratorium by RBI – Avail One Time Restructuring of Advances  for MSMEs

Dear Member,

At the outset, the Federation would like to inform its Members that we have been advocating assiduously for the last five months with the highest authorities in the Government for some hospitality industry specific relief measures as the maximum devastation happened to the tourism and hospitality sector due to the pandemic.

Since the moratorium period is going to end by 31st August 2020, we have continuously represented to the Hon’ble Prime Minister, Finance Minister and the RBI Governor to extend the moratorium period for 3 months and to  issue an industry specific circular to insulate the Hospitality Industry in India from mass bankruptcies, fore closures of  assets and millions of jobs from being lost permanently. 

With the moratorium period is ending today, i.e.: 31st August 2020, members are requested to avail the one-time restructuring scheme announced by RBI for Micro, Small and Medium Enterprise accounts, in this time of turmoil. Under the scheme, existing loans to MSMEs classified as 'standard' can be restructured without a downgrade in the asset classification.

A circular of RBI with guidelines of the one-time restructuring of advances of MSMEs is enclosed for your kind reference.

We assure all our support and co-operation in our collective struggle for survival and revival.

Be safe.

With kind regards,

Gurbaxish Singh Kohli
Vice President
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The Federation of Hotel & Restaurant Associations of India
Regd. Off.: B-82, 8th Floor, Himalaya House, 23 K.G. Marg, New Delhi - 110 001
Tel.: 011-40780780, Email: fhrai@fhrai.com, Website: www.fhrai.com