Tuesday, September 10, 2013

Banks Expect No Quick Fix for NPA Pain Despite Reserve Bank Warning

.........“Although RBI governor’s statement on NPA has sent a strong signal to defaulting borrowers, banks are facing difficulties at the field level in implementing SARFAESI Act and taking physical possession of mortgaged properties due to administrative gaps. This needs to be addressed first, otherwise bad borrowers will continue to use the loopholes and make mockery of the system,”.............

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