Business One year of RBI's February 12 circular: The game changer for bad loan resolution Updated : February 13, 2019 07:24 AM IST Under this revised framework, banks were given 180 days to resolve defaulting accounts of over Rs 2,000 crore. This circular is also one of the key reasons that prompted the central government to use section 7 of the RBI Act to hold consultations with the central bank. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.