March 2017 deadline for bank clean-up still ‘stands’, says RBI deputy governor

RBI deputy governor N.S. Vishwanathan said that the deadline of March 2017 for banks to clean up stressed assets from their balance sheets would not be extended


The March 2017 deadline for banks to clean up stressed assets from their balance sheets had been set by former RBI governor Raghuram Rajan. Photo: Aniruddha Chowdhury/ Mint
The March 2017 deadline for banks to clean up stressed assets from their balance sheets had been set by former RBI governor Raghuram Rajan. Photo: Aniruddha Chowdhury/ Mint

Mumbai: Reserve Bank of India (RBI) deputy governor N.S. Vishwanathan said on Tuesday that the deadline of March 2017 for banks to clean up stressed assets from their balance sheets still “stands,” indicating the central bank would not be extending the timeline.

Vishwanathan, talking to reporters on the sidelines of a banking event, also said the incremental addition of stressed assets in banks was coming down.

The March 2017 deadline was set by previous RBI governor Raghuram Rajan, but bankers and analysts had speculated whether the central bank under new governor Urjit Patel would be open to extending it. Reuters

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