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PMO to Review NPA Status, Progress on June 19
June 19, 2017
As RBI continues to crack down on the Non-Performing Assets, the Prime Minister Office has scheduled a related meeting on June 19 to review progress. Seniors officials from the finance ministry and corporate affairs have been called for the meeting where NPA issues, especially the recent identification of 12 mega loan defaulters by RBI, will be discussed.
RBI has released the name of the 12 major defaulters that make up for 25% of the total NPAs. For handling this issue, it has also established an Internal Advisory Committee (IAC) which will provide resolutions under the Insolvency and Bankruptcy Code (IBC)
