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Bad Loans: RBI to Reconstitute Oversight Committee to Tackle the Problem
May 25, 2017
RBI has been taking all kinds of measures to deal with the problem of bad loans such as issuing an ordinance and imposing restrictions on weak banks. Recently, it announced that it will be reconstituting the oversight committee as another move to resolve the problem of bad loans of Rs. 8 lakh crores.
The central bank has also proposed that more members should be added to the oversight committee which currently has only two members.
RBI also said that for the proper implementation of the reforms and enhanced empowerment others including ARCs, credit bureaus, and banks must also coordinate.
