Sunday, October 22 2017

June 18, 2017

Bankers to take action on large accounts defaulters

Bankers are goinng to meet to discuss on their next course of action on bad loans accounts for referral to National Company Law Tribunal.They will meet to discuss on the six of the 12 bad loan accounts named by Reserve Bank of India as the largest defaulters last week to face bankruptcy proceedings.Since these are large accounts and involve multiple banks, the lenders will try to take a common view on all administrative requirements before referring these accounts to the NCLT. According to RBI, these 12 accounts owe Rs 2.5 trillion to the system, which constitute around 25 per cent of gross bad loans.