Rediff Logo
Money
Line
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Women
Partner Channels: Auctions | Health | Home & Decor | IT Education | Jobs | Jobs | Matrimonial | Travel
Line
Home > Money > Business Headlines > Report
October 22, 2001
Feedback  
  Money Matters

 -  'Investment
 -  Business Headlines
 -  Corporate Headlines
 -  Business Special
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      



 Deals for NRIs

 CALL INDIA
 Direct Service :
 29.9/min
 Pre-paid Cards :
 34.9/min


 
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page Best Printed on  HP Laserjets

RBI asks banks to draft policies on recovery and write-off

CREDIT
POLICY
The Reserve bank of India has asked the commercial banks to design and implement their own policies for recovery and to write-off bad loans, particularly in the light of experiences gained by them while executing the one-time settlement scheme, which was operative till June 30 this year.

In its mid-term review of credit policy, RBI said any scheme formulated by bank boards should be simple, non-discriminatory and transparent so that all eligible cases are accorded equal treatment.

Under the one-time settlement scheme, the public sector banks have recovered a total sum of Rs 21.92 billion from 5.23 lakh accounts.

The scheme provided a one-time impetus to reduce the stock of chronic NPAs by recovering the dues up to Rs 50 million in all sectors including tiny industries, but excluded any cases of willful default, fraud and malfeasance.

UNI

YOU MAY ALSO WANT TO READ:

The Monetary & Credit Policy
Money
Business News

Tell us what you think of this report

ADVERTISEMENT