Resolution soon on 7-8 stressed power assets worth Rs 17,000 crore: SBI MD

The Reserve Bank of India (RBI), in a circular in February, mandated banks to identify projects with even a day's default as stressed asset and conclude the resolution proceedings in 180 days. The circular came into effect on March 1 and the 180-day deadline concludes on August 27. On provisions against non-performing assets (NPAs) or bad loans, Basu said that some guidance has been given and the bank has already provided for them significantly in the first quarter and will continue to provide as per the norms.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PBjGt6