The Reserve Bank of India has released a new circular on resolution of stressed assets after its previous circular was quashed by the Supreme Court.
Punjab National Bank Chairman Sunil Mehta, who conceptualised the inter-creditor agreement made compulsory by the RBI, in a telephonic interview tells Somesh Jha how the new norms can be rolled out immediately with a set mechanism in place: The RBI has taken leaf out of the books of the Sashakt scheme to ask banks for an inter-creditor agreement (ICA). How do you see it? I don’t take credit for Sashakt alone as the plan was ...
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