The centre and Reserve Bank of India (RBI) should plan and issue a new set of regulations to ensure that the borrowers repay their debts on time in adherence to the Supreme Court of India, said Amitabh Kant, Chief Executive Officer, NITI Aayog.
The apex court on Tuesday ruled out the February 12 circular issued by the RBI on Non-Performing Assets (NPAs).
Kant said that framing a new set of guidelines by the centre and the banking regulator will definitely ensure timely repayment and resolution of bad loans, which is essential for the long term growth of the company.
