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Banks can Classify Priority Loans as Standard Debt: RBI
September 25, 2017
In a bid to ensure that revivable entities are able to raise resources, RBI has assured the lenders that they can classify the priority loans offered to the defaulting companies in the bankruptcy process as standard debt.
According to the industry stakeholders, this move will help the defaulting companies that are trying to recast the loans in accordance with the tight deadline set by the Insolvency and Bankruptcy Code.
