The banking sector is saddled with non-performing assets (NPAs) of over Rs 8 lakh crore.
New Delhi: RBI today withdrew a portion of its earlier statement in which it had said that 12 cases identified by it for insolvency proceedings would be accorded priority by the National Company Law Tribunal (NCLT) “stands deleted”.
On June 13, RBI had said it has identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs of banks.
It has also said these cases would be “accorded priority” by NCLT, which has jurisdiction over insolvancy proceedings.
However, withdrawing the portion today, RBI said in a statement: “…Such cases will be accorded priority …
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