RBI asks banks to resolve 55 bad loan accounts in 6 months

RBI has asked banks to resolve 55 identified high value cases of bad loans within a period of six months. Otherwise, the central bank would examine those cases and refer for resolution under the new Insolvency and Bankruptcy Code. Earlier this month, RBI had identified 12 accounts for insolvency proceedings, which accounted for 25% of total bad loans of banks.