RBI launches tougher rules on non-performing loans
RBI takes next step in push to clean up financial sector
The Reserve Bank of India has overhauled its framework governing how banks should deal with non-performing loans, demanding more decisive action from institutions weighed down by bad debt.
The rewrite of the guidelines governing resolution of stressed assets follows legislation granting the RBI the power to force banks to deal with overdue debts. In 2017, the RBI estimated about 17% of banking sector assets were non-performing, but regulators have struggled for several years to make banks take
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