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RBI almost done with list of bad loans for resolution via bankruptcy: FM

Last month, the govt tweaked its laws to help tackle a record $150 bn in troubled bank debt

Reuters  |  New Delhi 

The Reserve Bank of India (RBI) is at an advanced stage of preparing a list of bad loans where resolution is required under the country's insolvency and bankruptcy rules, Finance Minister Arun Jaitley said on Monday. Last month, the government tweaked its laws to help tackle a record $150 billion in troubled bank debt. The government has authorised the central bank to direct banks to initiate an insolvency resolution process in the case of a default under provisions of the bankruptcy code. "The RBI is at a fairly advanced stage of preparing a list of those debtors where ...

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First Published: Mon, June 12 2017. 14:53 IST
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