Search
RBI Discloses Names of First 6 Mega Stressed Accounts
June 19, 2017
Reserve Bank of India has provided the bankers with the accounts of the first six Non-Performing Assets (NPAs) that are to be resolved as per Insolvency and Bankruptcy Code (IBC). The central bank has also asked them to take these cases up with the National Company Law Tribunal (NCLT) within two weeks.
On Tuesday, RBI announced it had identified 12 major stressed accounts that contribute to a quarter of the total NPAs. Today, it revealed the first 6 names which are: Electrosteel Steels, Alok Industries, Monnet Ispat, Bhushan Power & Steel, and Essar Steel.
