Login With Google
Panel for stressed loans resolution norms
Why is it in news?
- The Reserve Bank of India (RBI) constituted the proposed expert committee under the chairmanship of veteran banker K.V. Kamath.
- The panel to make recommendations on norms for the resolution of COVID-19 related stressed loans.
Details:
- The committee will submit its recommendations on the financial parameters to the RBI.
- The Indian Banks’ Association (IBA) will function as the secretariat to the committee.
- The committee will be fully empowered to consult or invite any person it deems fit.
- The committee may devise its own procedures for its internal functioning.