bonumlex - law firm in delhi

RBI TO BANKS: EITHER RESOLVE 55 BAD LOANS OR FACE I&B CODE.

News Date: 23.06.2017

The Reserve Bank of India in its effort to check the deplorable level of non-performing assets has asked banks to either internally resolve the 55 bad loans cases within 6 months or be ready to face the proceedings under the Insolvency and Bankruptcy Code.

The banking sector is saddled with NPAs of over Rs 8 trillion, in which 12 accounts are eligible for insolvency proceedings with each of them having over Rs5,000 crore of outstanding loans, which accounts for 25% of total NPAs of banks.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply