The agreement, a part of Project Sashakt, will be taken to boards of respective banks and would be cleared in a couple of days, said PNB non-executive chairman Sunil Mehta New Delhi: With a view to fast track NPA resolution, bankers on Thursday finalised the inter-creditor agreement framework that envisages effective communication among lenders. The agreement, a part of Project …
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 …