PREVIOUS
✖
Stressed Asset Resolution
June 8 , 2019
2026 days
833
0
- The Reserve Bank of India has issued a new ‘prudential framework for resolution of stressed assets.
- Supreme court had struck down its earlier ‘revised framework for resolution of stressed assets’.
- The new framework gives 30 days for lenders to review the borrower account on default.
- Banks have to draw a resolution plan (RP) for implementation within 180 days of the first default.
- The new circular is also applicable to small finance banks and systemically important non-deposit taking non-banking financial companies (NBFCs) and deposit-taking NBFCs.
Leave a Reply
Your Comment is awaiting moderation.