You are here: Home » Finance » News » Banks

The glaring gulf between policy rate and market interest rate cycle

Business Standard

RBI to frame new rules on recasting bad loans after SC scraps circular

The banking regulator did not consult the government before issuing the circular, which drags a bunch of companies to the IBC, the court had said

Reserve Bank Of India  |  Supreme Court  |  Monetary Policy

Abhijit Lele  |  Mumbai 

With the Supreme Court striking down the Reserve Bank of India's (RBI’s) February 12, 2018, circular, Governor Shaktikanta Das said on Thursday that the central bank would shortly come up with a revised circular for restructuring stressed assets. Das said the apex court's order had not taken away any powers from the RBI.

The powers were still vested with the regulator, he added, but they had to be exercised in a particular manner. The RBI would issue a revised circular without "undue delay", he told reporters after announcing the monetary policy. "We ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, April 04 2019. 22:36 IST