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RBI's February 12 circular, explained

Updated : April 02, 2019 11:21 AM IST

The new rule mandates lenders to initiate insolvency resolution under the Bankruptcy Code if a borrower fails to pay even at the end of the 180 days of first default.
The new rules almost immediately faced criticism, first behind closed doors, and then more publicly.
RBI's February 12 circular, explained
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