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RBI scans 200 bad loan accounts, says report

RBI scans 200 bad loan accounts, says report

RBI scans 200 bad loan accounts, says report
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By CNBC-TV18 Aug 14, 2018 9:31:33 AM IST (Updated)

Accounts of Videocon, Essar Steel, ABG Shipyard, Bhushan Steel and Monnet Ispat are under the RBI scanner.

In an effort to preempt any surprises in the bankruptcy court or debt resolution, the Reserve Bank of India (RBI) has been looking into 200 bad loan accounts going as far back as in 2011, reported The Economic Times quoting people familiar with the matter.

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Accounts of Videocon, Essar Steel, ABG Shipyard, Bhushan Steel and Monnet Ispat are under the RBI scanner, the report said, adding that RBI is looking at repayment history, classifications, provisions and debt restructuring among other things to ensure the process was correctly followed.
“The RBI has sought details from some banks regarding the provisions made in some of the big stressed accounts, the asset classification adopted by various banks for the same account,” a banker was quoted as saying by the daily.
The scanning into the bad loan accounts is taking place along with the annual inspection of books by the central bank every year, the report added.
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