RBI rejects request to extend Jan 7 deadline for resolution plans of stressed assets

With creditors unable to agree on buyers or the restructuring mechanism, it is taking several weeks to arrive at any consensus in many cases. The last date of signing ICA was January 7 for loans exceeding Rs 2,000 crore. Banks had asked the regulator to extend the deadline by three months so that cases close to resolution were not referred to the NCLT.

from Banking/Finance-Industry-Economic Times https://ift.tt/36AewFL