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No Plans for Next Batch of Defaulters Yet: S S Mundra
June 19, 2017
S S Mundra, Deputy Governor Reserve Bank of India has confirmed that there are no plans of coming up with the next batch of loan defaulters. He said that for now 12 major defaulters have been identified and will be initiated with insolvency proceedings, further adding that the banks have been asked to resolve these cases within 6 months. Thus, there is no question of creating a second list soon.
RBI recently identified 12 mega defaulters that are responsible for over Rs. 5,000 crores worth of outstanding loans and accounting for 25% of the total existing NPAs.
