New NPA norms offers leeway to lenders, borrowers

Two months after the Supreme Court struck down the February 12 circular, the Reserve Bank on Friday issued a revised framework for resolving stressed assets by offering lenders a 30-day period to label an account an NPA but has withdrawn all other resolution methods. The new directions, effective immediately, retain the basic spirits of the February 12, 2018 circular as it mandates higher provisioning, bankruptcy options as well as do not allow any other resolution methods outside the new norms.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Wjr4LX
via IFTTT