The IAC noted that under the recommended criterion, 12 accounts adding up to about 25 per cent of the current gross NPAs of the banking system would qualify for immediate reference under IBC, the RBI said on Tuesday.
The Reserve Bank of India (RBI) is moving to resolve the bad loan crisis with an Internal Advisory Committee (IAC) of the RBI having identified 12 accounts of corporate borrowers who owe over Rs 5,000 crore each and overall involve an amount of close to Rs 175,000 crore for insolvency proceedings under the newly enacted Insolvency and Bankruptcy Code 2016 (IBC).
The RB…
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