RBI monetary policy: New NPA resolution norms in 3-4 days, says central bank governor Shaktikanta Das

The Reserve Bank will issue a revised circular on bad loan recognition within the next three-four days, replacing the 12 February circular that was struck down by the apex court

Press Trust of India June 06, 2019 13:34:50 IST
RBI monetary policy: New NPA resolution norms in 3-4 days, says central bank governor Shaktikanta Das
  • On 2 April, the Supreme Court had declared as 'ultra vires' the 12 February circular that mandated banks to label even a day's default as NPA

  • The revised circular on 12 February on NPA classification will be issued very shortly, in three to four days, Das told reporters at the customary post-policy announcement

  • The RBI on 12 February, 2018, issued a framework on the resolution of stressed assets under which banks were asked to disclose defaults even of a day and have to find a resolution plan within 180 days in case of the large account of Rs 2,000 crore and above failing which it would send for bankruptcy

Mumbai: The Reserve Bank will issue a revised circular on bad loan recognition within the next three-four days, replacing the 12 February circular that was struck down by the apex court.

RBI monetary policy New NPA resolution norms in 34 days says central bank governor Shaktikanta Das

File image of RBI governor Shaktikanta Das. Reuters.

On 2 April, the Supreme Court had declared as "ultra vires" the 12 February circular that mandated banks to label even a day's default as NPA.

"The revised circular on 12 February on NPA classification will be issued very shortly, in three to four days," Das told reporters at the customary post-policy announcement.

The RBI on 12 February, 2018, issued a framework on the resolution of stressed assets under which banks were asked to disclose defaults even of a day and have to find a resolution plan within 180 days in case of the large account of Rs 2,000 crore and above failing which it would send for bankruptcy.

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