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'Intermediate mechanism to tackle NPAs'

Midway mechanism will be in the domain of banks, says Bank Board Bureau chairman Vinod Rai

Policy Pulse
Publish Date: May 20 2016 2:18PM | Updated Date: May 20 2016 5:11PM

'Intermediate mechanism to tackle NPAs'

 An 'intermediate mechanism' is in store for resolution of non-performing assets (NPAs) of banks, Bank Board Bureau chairman Vinod Rai said in New Delhi on Friday.

 

“We are putting in place an intermediate mechanism which will analyse some of the processes which will be triggered to settle the NPAs which the banks are carrying in their balance sheets,” Rai said at the fifth Banking and Finance Summit 2016, organised by the Confederation of Indian Industry (CII).

 

“It should be in place in a fortnight or maximum three weeks from now.”

 

The midway mechanism will be in the domain of banks and outside the Bank Board Bureau, Rai added.