RBI at advanced stage of preparing list of top loan defaulters: Arun jaitly

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RBI at advanced stage of preparing list of top loan defaulters: Arun jaitly


With ordinance in place,finance minister Arun jaitly om monday said the RBI is at a fairly advanced stage of preparing a list of borrowers where NPA resolution is required under the in solvency law and action on this front is expected soon.

The ordinance was promulgated last month amending the banking regulation act,1949,to empower the reserve bank of India to resolve the thorny issue of non-performing assets (NPAs) or bad loans.

The government empowered the RBI to ask banks to initiate insolvency proceedings to recover bad loans and promised more measures to resolve the NPA problem.

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