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Lenders may miss RBI's six-month deadline to approve debt-resolution plans

Resolution plans were to be implemented within 180 days from the end of the one-month review period

Dev Chatterjee & Raghu Mohan  |  Mumbai 

Lenders are likely to miss the six-month deadline set by the Reserve Bank of India (RBI) to find a resolution of defaulting companies by December 6, thus putting another Rs 3.8 trillion of loans at risk.

In its June 7 circular, the RBI gave banks 180 days, plus a one-month review period at the beginning, to approve debt-resolution plans. According to a source close to the development, 60-80 more companies will miss the deadline as there is no resolution in sight. “Banks will have to make provisions in the March quarter as the deadline along with the review period of several ...

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First Published: Thu, November 14 2019. 22:30 IST
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