‘Intermediate mechanism to tackle NPAs’

New Delhi, May 20 (IANS) An ‘intermediate mechanism’ is in the offing for resolution of non-performing assets (NPAs) of banks, Bank Board Bureau chairman Vinod Rai said here on Friday.

“We are putting in place an intermediate mechanism which will analyse some of the processes which will be triggered to settle the NPAs which the banks are carrying in their balance sheets,” Rai said at the fifth Banking and Finance Summit 2016, organised by the Confederation of Indian Industry (CII).

“It should be in place in a fortnight or maximum three weeks from now.”

The intermediate mechanism will be in the domain of banks and outside the Bank Board Bureau, Rai added.

–IANS

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