RBI stands firm on stressed assets as Supreme Court deliberates
Central bank says it has not softened stance, but court could force it to grant forbearance
The Reserve Bank of India has stressed it has no plans to back down on tough rules on non-performing assets, although a court ruling could yet upset its bid to clean up the banking sector.
A circular issued in February 2018 is currently the subject of a court battle, which reached the Supreme Court late last year. Several Indian businesses petitioned the courts to overturn the RBI’s decision, contending the rules could push them into insolvency.
The RBI maintained its strict line in a
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