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Stressed Asset Resolution
June 8 , 2019
1869 days
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- 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.
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