Rs. 8 Lakh crore NPAs likely to undergo bankruptcy proceedings by March 2019: ASSOCHAM
LATEST NEWS : Emboldened by the Banking Regulation (Amendment) Ordinance, RBI is expected to put bad loans worth about Rs 8 lakh crore for resolution by March 2019, a move that could bring down the non-performing assets (NPAs) to acceptable level and significantly improve the financial health of banks as well, a study done by ASSOCHAM said. So, it should be safe to assume that the NPAs mess would largely be resolved by the first quarter of financial year 2019-20. This would be helped by a combination of several factors - turnaround in the economic cycle and some resolute steps by the government and the Reserve Bank of India to fix the issue, ASSOCHAM study titled NPAs Resolution: Light at the end of tunnel by March 2019. Although entire NPAs could be put on the altar of IBC resolution mechanism, it has to be seen how much and how fast they actually goes out from the balance sheets of banks which at this point of time seem very stressed, it said. It is no secret that ...