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RBI Should Give Banks Incentives To Clean Up Bad Loans: SBI

By Religare

The State Bank of India (SBI) has said that the Reserve Bank of India (RBI) needs to give some incentives to banks for resolution of bad loans in terms of provisions or extending the deadline of March 31 to clean up their books.

RBI Should Give Banks Incentives To Clean Up Bad Loans: SBI
Commenting on the issue, SBI MD Dinesh Kumar Khara told the media, "Wherever resolution is being attempted, some kind of incentivisation from RBI in terms of NPA (non-performing assets) recognition date of March 31, 2017, or in terms of provisions should be given. If this relaxation can be given, banks will be encouraged for faster resolution."

"Various professional agencies have got into the process of resolution. I think consultants are also coming up for managing the stressed assets. Things are happening but one month is too short for definite results," he said.

Khara further said that though the banking sector is prepared for the worst, whatever be the regulatory guidelines, it is also putting forth its viewpoint.

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