The
Reserve Bank of India (RBI) has informed that five complaints /representations
regarding irregularities in restructuring of loans in public sector banks in
the country have been received. One representation is from Institute of Cost
& Works Accountants of India (ICWAI), a complaint from a Member of
Parliament and three complaints are from other persons.
A
Working Group (WG), constituted by RBI to review the Prudential guidelines on
Restructuring of Advances, had examined the issues related to misuse of
restructuring mechanism and made various recommendations for rationalizing and
tightening the existing guidelines. Taking into account the recommendations of
WG and comments received from various stakeholders, a detailed guideline on
restructuring of advances was issued by RBI on May 30, 2013.
This
was stated by Shri Namo Narain Meena, MoS in the Ministry of Finance in written
reply to a question in the Rajya Sabha.
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