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With a focus on reducing NPAs, the proposed regulations require banks to provision up to five per cent of the loan amount during the construction phase, with adjustments as the project progresses.
A specialised cadre will be created within the Reserve Bank for supervision and regulation of financial institutions, including banks and NBFCs, the RBI Tuesday said. This move assumes significance at a time when non-banking financial companies (NBFCs) are facing severe liquidity crunch in the wake of IL&FS crisis.
New Delhi: Amidst concerns over rising bad loans, Finance Minister Arun Jaitley will hold pre-budget consultations with heads of banks and financial institutions on June 10 to deal with the situation.The meeting with CMDs and
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