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RBI rolls out settlement rules for NPAs
PRESS TRUST OF INDIA
Mumbai, Aug 2: In view of the time factor involved in recovering non-performing assets (NPAs) by banks through legal means, the Reserve Bank of India (RBI) has come out with simplified non-discretionary and non-discriminatory guidelines for compromise settlement of bad debts up to Rs 5 crore for uniform implementation by them. The RBI norms covers all outstanding, doubtful and loss assets of Rs 5 crore or less as on March 31, 1997 (irrespective of nature of business). Advances classified as sub-standard as on March 31, 1997 and which had turned into doubtful or loss assets subsequently also would be covered, a statement issued by the IBA said.Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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