RBI circular provides more freedom to bankers: IBA

The Reserve Bank's new circular for resolution of stressed assets is propelled by provisioning requirements and gives more freedom to bankers in taking decisions, Indian Banks' Association (IBA) chairman Sunil Mehta said on Saturday. The latest directions from the RBI retain the basic spirit of the February 12, 2018 circular as it mandates higher provisioning, bankruptcy options as well as do not allow any other resolution methods outside the new norms.

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