Changing the culture of corporate credit
Despite the criticism, RBI's decision requiring banks to report defaults of even a single day is a good one
Reserve Bank of India (RBI) deputy governor N.S. Vishwanathan gave a strongly worded speech on the resolution of stressed assets in late April. The timing should not come as a surprise. RBI’s announcement in February brought in a series of measures to strengthen the process through which stressed assets are identified and resolved. The measure that has attracted the most criticism is the regulator’s decision requiring banks to report defaults of even a single day. This move has been questioned by bankers, borrowers, those in government as well as those in opposition.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more