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Reserve Bank restructures loan rescue rules
The Reserve Bank of India has mandated that State Bank of India and ICICI Bank will be part of all the empowered committees of any joint lenders’ forum( JLF) setup by aconsortium for addressing stress in loan servicing. The banking regulator announced this and other measures on Thursday, aimed at hastening decisions in a JLF. These tend to get delayed, as lenders with small erexposure tend to be reluctant on efforts to revive a stressed asset.
Business Standard, New Delhi, 25th Sept. 2015