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RBI should differentiate between wilful and genuine defaulters, says parliamentary panel

Updated : August 30, 2018 06:08 AM IST

The standing committee on finance on non-performing assets' (NPAs) draft report said the Reserve Bank of India (RBI) should differentiate between wilful and genuine defaulters.

The report also cautions that a one-size-fits-all approach towards non-performing assets will not work and suggested that NPAs created due to wilful defaulters be treated differently, than those created due to changes in government policy.

The panel also observed that resolutions under the Insolvency and Bankruptcy Code (IBC) mechanism are taking an unduly long time. This process has to be quickened by strengthening the National Company Law Tribunal (NCLT), it said.
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