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RBI's new framework to expedite resolution of stressed assets: Sashakt committee on bad loans

The Reserve Bank on Friday had replaced a tough norm on NPA categorisation by lenders, as it was quashed by the Supreme Court in April New Delhi: The mandatory norm of inter-creditor agreement allows banks to decide resolution strategy outside the IBC and it will help lenders to accelerate process to resolve stressed assets, Sashakt committee on bad loans said …

“When I told my doctor that I couldn’t afford the operation, he offered to touch up my X-rays.” This sort of sums up the thrust of the government-appointed Sunil Mehta committee report for yet another structured solution to the non-performing assets plague afflicting our economy. Sensing this in its asset quality reviews, the Reserve Bank of India coerced all banks …

Assets

ICA to aid banks, financial institutions fighting bad loans that are sniffing at 12 percent of the system, to take concerted efforts towards resolving dud loans under Rs 500 crore. Nearly two dozen lenders, led mostly by state-run banks, on Monday, signed the inter-creditor agreement framework to speed up the resolution of stressed assets that are under the Rs 500 …

Finance minister Piyush Goyal unveiled ‘Project Sashakt’, a five-prong strategy to deal with non-performing assets. Goyal clarified that no proposal was put forth to create a bad bank to deal with the rising NPAs, adding that independent AMCs and steering committees would be set up for faster resolution of bad loans in the banking system. The committee of bankers, led …