RBI Issues Revised Norms to Deal with Stressed Assets
- On 7th June, 2019, RBI issued the Prudential Framework for Resolution of Stressed Assets.
- This was issued following the quashing of its revised framework for resolution of stressed assets by the Supreme Court in April, 2019.
Highlights
- Gives lenders a breather from the one-day default rule whereby they had to draw up an resolution plan (RP) for implementation within 180 days of the first default.
- Gives lenders (scheduled commercial banks, all-India financial institutions and small finance banks) 30 days to review the borrower account on default.
- Lenders may also choose to initiate legal proceedings for insolvency or recovery.
- It is applicable to small finance ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Scheme for Strengthening Medical Device Industry
- 2 Regulatory Framework for Restricted Return InvITs
- 3 World’s First Co2 to Methanol Plant
- 4 Peak Oil
- 5 India’s Renewable Energy Sector Achieves Significant Growth
- 6 4th Phase of Consolidation of RRBs
- 7 RBI’s Framework for Reclassification of FPI to FDI
- 8 RBI’s 2024 List of Domestic Systemically Important Banks
- 9 Windfall Gain Tax
- 10 National Mission on Natural Farming
- 1 Cabinet Approves Extension of PM-KISAN scheme to all farmers
- 2 High-Powered Committee of CMs to Transform Indian Agriculture
- 3 On Tap Licensing For Small Finance Banks
- 4 RBI Relaxes Leverage Ratio for Banks
- 5 SEBI Proposes Whistleblower Mechanism to Curb Insider Trading
- 6 SEBI Introduces Probability of Default Mechanism
- 7 Government Proposes WTO-Compliant Schemes
- 8 U K Sinha Committee on MSMEs
