The list of defaulters is available in social media...Not sure about the veracity..But most likely it seems true!!
[h=1]RBI identifies 12 accounts with 25% of bank bad loans for bankruptcy proceedings[/h] [h=2]An internal panel of the RBI suggested that accounts with outstanding amounts of more than Rs 5,000 crore, of which at least 60% was classified as non-performing by banks as of March 31, 2016, can be referred for bankruptcy proceedings.[/h] Jun 14, 2017 13:26 IST
Alekh Archana and Sahib Sharma
Livemint, Mumbai
The RBI says banks will be asked to implement the insolvency and bankruptcy code.(REUTERS File photo)
The Reserve Bank of India (RBI) on Tuesday said 12 accounts representing about 25% of the gross bad loans in the banking system would be eligible for immediate reference for bankruptcy proceedings.
Indian banks are sitting on a stressed asset pile of close to Rs 10 trillion; of this, gross bad loans account for Rs 7.7 trillion and the rest are restructured loans.
An internal panel of the central bank has suggested that accounts with outstanding amounts of more than Rs 5,000 crore, of which at least 60% was classified as non-performing by banks as of March 31, 2016, can be referred for bankruptcy proceedings.
The RBI did not disclose the names of the accounts. The accounts were shortlisted by an internal advisory committee (IAC), which mainly comprises the central bank’s independent board members.
Under a May 5 ordinance amending the Banking Regulation Act, the central bank has the powers to suggest to, and even compel, banks to invoke proceedings against defaulters.
http://www.hindustantimes.com/busin...proceedings/story-Ag8NsMWvF4fET7yPvDPjxL.html
Alekh Archana and Sahib Sharma
Livemint, Mumbai
The RBI says banks will be asked to implement the insolvency and bankruptcy code.(REUTERS File photo)
The Reserve Bank of India (RBI) on Tuesday said 12 accounts representing about 25% of the gross bad loans in the banking system would be eligible for immediate reference for bankruptcy proceedings.
Indian banks are sitting on a stressed asset pile of close to Rs 10 trillion; of this, gross bad loans account for Rs 7.7 trillion and the rest are restructured loans.
An internal panel of the central bank has suggested that accounts with outstanding amounts of more than Rs 5,000 crore, of which at least 60% was classified as non-performing by banks as of March 31, 2016, can be referred for bankruptcy proceedings.
The RBI did not disclose the names of the accounts. The accounts were shortlisted by an internal advisory committee (IAC), which mainly comprises the central bank’s independent board members.
Under a May 5 ordinance amending the Banking Regulation Act, the central bank has the powers to suggest to, and even compel, banks to invoke proceedings against defaulters.
http://www.hindustantimes.com/busin...proceedings/story-Ag8NsMWvF4fET7yPvDPjxL.html
