........Banks need to strengthen their recovery processes, and it should be focused on “efficiency and fairness—preserving the value of underlying assets and jobs where possible, even while redeploying unviable assets to new uses and compensating employees fairly”, the RBI report said. To do this, there is “urgent need for accelerating the working of debt recovery tribunals and asset reconstruction companies”. If economic growth picks up, the bad debt position “may improve”, the report said.............
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