RBI to resolve top 60 bad loan cases in nine months
DSIJ Intelligence / 05 May 2017
The banking regulator Reserve Bank of India is likely to resolve the nation’s 60 largest delinquent loan cases in the coming nine months, according to the market sources.
The banking regulator Reserve Bank of India is likely to resolve the nation’s 60 largest delinquent loan cases in the coming nine months, according to the market sources.
The bank will establish a secretariat to monitor the resolution process for the biggest defaulters by loan amount, according to people familiar with the matter.
The fresh actions by the RBI against bad loans are propelled by the introduction of the Banking Regulation Act, giving more authority to the apex bank in matters related to bad loans. The stressed assets of Indian banks comprise 17 per cent of the total loans in the economy, the worst among the major economies.
The reduction in bad loans will revive credit growth and enable the government to attain its goal of generating more employment in the economy.
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