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Banks seek three months’ time for making additional provisions under RBI Jun 7 circular

Updated : April 08, 2020 03:20 PM IST

Reserve Bank’s “Prudential Framework for Resolution of Stressed Assets”, or the “June 7 circular” as it is more popularly called, requires banks to recognise stress, and initiate a review of default within 30 days.
Banks are allowed 180 days’ time after the 30-day review period, to implement a resolution plan.

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