Published in:
Business Standard
Pubished on:
19 Aug 2016
The government hopes recent amendments in loan recovery laws will help hasten the disposal of over 70,000 pending cases involving more than Rs 5 lakh crore in non-performing assets and ease the crippling situation of toxic loans, senior officials said on Thursday.
The amendment law, which received presidential assent on Tuesday, sets a time limit for disposal of debt recovery cases and seeks to improve ease of doing business by ensuring speedier resolution of defaulted loans.