इंडियन आवाज़     21 Feb 2024 03:09:39      انڈین آواز
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RBI identifies 12 loan accounts constituting 25% of gross NPAs for immediate resolution

RBI

AMN

The RBI’s Internal Advisory Committee has identified 12 accounts each having more than 5,000 crore rupees of outstanding loans. It accounts for 25 percent of the current gross Non Performing Assets for immediate referral and resolution under the bankruptcy law.

The Reserve Bank, in a press release yesterday said its Committee has agreed to focus on large stressed accounts which were classified partly or wholly as non-performing from amongst the top 500 exposures in the banking system.

The Committee has, in particular recommended that all accounts having more than five thousand crore rupees as outstanding loan as of 31st March 2016 should be immediately taken up for resolution.

Without naming the defaulters, the apex bank has said the lenders will be asked to initiate insolvency proceedings to recover the dues. It said that such cases will be accorded priority by the National Company Law Tribunal.

As regards the other non-performing accounts, the Internal Advisory Committee has recommended that banks should finalise a resolution plan within six months.

It added that if a viable resolution plan is not agreed upon then the banks would be required to file for insolvency proceedings under the Insolvency and Bankruptcy Code, 2016.

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