Business Other News 15 Mar 2019 RBI defends 1-day de ...

RBI defends 1-day default rule

DECCAN CHRONICLE.
Published Mar 15, 2019, 12:43 am IST
Updated Mar 15, 2019, 12:43 am IST
The banks are here and they can consider it. We can give 15-30 days,” RBI’s counsel informed the Supreme Court.
Reserve Bank of India
 Reserve Bank of India

Mumbai: The Reserve Bank on Wednesday reiterated that stressed companies have no resolution plan despite ample time given to them. In its submissions before the Supreme Court (SC), the regulator said that if the companies were ready with a plan, they should place it before the court.

“Let them place the plan before the court. The banks are here and they can consider it. We can give 15-30 days,” RBI’s counsel informed the Supreme Court.

 

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