27 August deadline for NPA Resolution
Today ET channel has taken interview of two chairmen/MD of one PSU bank for the fast-approaching deadline for resolution.
Their body language and language both lacking confidence for resolution indicating that the deadline cannot be met and maybe more 200 cases may be referred to NCLT.
Or RBI’s stance needs some correction. The kind of confidence expressed by these 3 gentlemen is giving a hollow feeling.
Is it because of the team they are heading?
If large/mid-corporate this is the fate then what about lacs of MSME unit?
Generally, MSME is more secured, either by the collateral of properties/personal, 3rd party guarantee and/or credit guarantee fund. It is the economy’s interest to revive/resolve this cases on the fast track but most of these cases, are to be settled at a branch or regional offices of respective banks. And their mindset is to wash off their hands by transferring these to their Stress Asset recovery branch.
Can RBI/Central Govt do something at least open a cell at RBI for solving at their regional offices?