New Delhi: Resolving the non-performing assets (NPAs) crisis has been a priority for the government. News18 has learnt that the Finance Ministry is thinking of a plan B, to be deployed if the current approach to resolving bad loans does not make substantial progress within a few weeks.
The government and the Reserve Bank of India have identified 12 biggest corporate defaulters which account for about 25% of total NPAs of around Rs 8 lakh crore. Forcing a resolution of these accounts under the Insolvency Code will have a domino effect on the rest, according to government. However, key officials will review the progress made in 2-3 months before taking a decision on whether to change tactics.
The governments philosophy is not to be t…
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