RBI renews push for loan clean-up after Supreme Court defeat
Revised circular designed to avoid legal issues suffered by earlier version
The Reserve Bank of India (RBI) has issued a revised circular on stressed assets, after an earlier version was struck down by India’s Supreme Court.
The new document, published on June 7, appears to correct the main legal issues with the original, which is widely known as the “February 12 circular” after its publication date in 2018.
The circular is a key part of the RBI’s efforts to force banks to deal with stressed assets on their balance sheets. Many banks have been reluctant to force
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