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Bank-led resolution of NPAs set to begin

Indian Banks’ Association (IBA) along with former deputy governor of Reserve Bank of India has set up an oversight committee with to kick start bank-led resolution of stressed assets under the inter-creditor agreement. The association has now asked the 34 lenders to initiate and send the resolution proposals under the scheme. According to the senior official of Indian Bank’s Association, banks have been told to provide forensic reports and credit rating of the borrower along with the resolution plan “Under Project Sashakt”, an overseeing committee (OC) is to be set…

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