Govt to continue talks with RBI on easing non-performing asset norms

Officials said the Prime Minister's Office and Finance Minister Arun Jaitley had been apprised of the matter

A day after Reserve Bank of India (RBI) Deputy Governor N S Vishwanathan ruled out easing new norms for non-performing asset (NPA) resolution, the government doubled down on its stance that a strict application of these norms could send too many cases to the National Company Law Tribunal (NCLT) and clog the insolvency pipeline. Business Standard has learnt from senior government sources that the finance ministry will initiate a fresh round of communication with the RBI once Governor Urjit Patel returns to India.

Patel, along with Deputy Governor Viral Acharya, is in Washington, DC for the World Bank-International Monetary Fund Spring