February 12, 2018 / 5:39 PM / 10 months ago

India's central bank announces new bad-loan-resolution framework

MUMBAI, Feb 12 (Reuters) - The Reserve Bank of India said late on Monday it was withdrawing all its existing mechanisms for tackling bad debt at Indian banks and replacing them with a harmonised and simplified generic framework for resolving stressed assets.

The new system will force lenders to identify and tackle any stressed-asset accounts more rapidly, the regulator said.

Last year, India tweaked its laws to give the central bank more authority to push lenders to deal with the nearly $150 billion in troubled debt at banks, which has choked off new lending and slowed the economy. (Reporting by Devidutta Tripathy and Euan Rocha, editing by Larry King)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below