Banks may drop overseeing panel for quicker resolution

The Indian Banks Association will write to its members advising them to drop the standard clause in the inter-creditor agreement that calls for this, said a senior executive aware of developments. Banks had continued to route stressed asset resolution proposals through the OC even after revised guidelines issued by the RBI in June 2019 on ‘Prudential Framework for Resolution of Stressed Assets didnt mention such a requirement.

via Economictimes