Explainer: What is inter-creditor agreement signed by banks in the country?
Updated : July 24, 2018 06:29 AM IST
As per the new agreement, lending parties will jointly appoint a lead lender, who will act on behalf for the entire group.
Signed by leading banks led by SBI, the agreement is the direct result of the Sashakt resolution framework that was released earlier this month.
The Sashakt plan, which was itself the result of the crisis created in the financial field following the high volume of bad loans by banks that crossed Rs 10 lakh crore mark.
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