PSBs have no clear plan to restore their health, says RBI's Viral Acharya

Deputy Governor says RBI has advised banks to resolve some accounts by December

This story has been modified to rectify an error in the earlier version.

Reserve Bank of India (RBI) Deputy Governor Viral Acharya on Thursday said while there were several options on the table to recapitalise banks and address the resolution process, they were moving at a glacial pace and there was a lack of a “clear and concrete plan” to restore the health of public sector banks (RBI).
 

Indeed, “the lack of a clear and concrete plan for restoring public sector bank health,” remained an unfinished part of the RBI’s agenda, and also its “Achilles heel,” Acharya said. 

It