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RBI outlines plans for resolution of bank bad loan
The RBI identified 12 accounts that constitute about 25% of the overall gross NPAs in the system.
Published on: Jun 13, 2017, 21:58:47 IST
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The Reserve Bank of India outlined on Tuesday a plan to expedite the resolution of the $150 billion bad debt problem plaguing the country’s banks by focusing first on some of the large stressed accounts held by lenders.
The RBI, in a statement, said it has identified 12 accounts that constitute about 25% of the overall gross non-performing assets in the system and directed lenders to begin insolvency proceedings around these accounts immediately.
The move comes about a month after the Indian government changed rules giving the central bank greater power to deal with bad loans.
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