12 accounts with 25% of bank bad loans identified for bankruptcy proceedings

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  • The Reserve Bank of India (RBI) said 12 accounts representing about 25% of the gross bad loans in the banking system would be eligible for immediate reference for bankruptcy proceedings.
  • An internal panel of the central bank has suggested that accounts with outstanding amounts of more than Rs5,000 crore, of which at least 60% was classified as non-performing by banks as of 31 March 2016, can be referred for bankruptcy proceedings.
  • The details of the resolution framework for these other non-performing accounts will be released in the coming days.

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