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Q12. Consider the following statements about New Insolvency rules announced by RBI: 1. Banks will have to file for insolvency proceedings against loan defaulters with Rs 20 billion ($311 million) or more if a resolution plan is not implemented within 180 days of the initial occurrence of a default. 2. Any process involving restructuring or change in ownership for large accounts with loans of 5 billion rupees or more will need independent credit evaluation by credit rating agencies that are authorized by the RBI. Which of the following statements are correct? |
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Answer» Q12. Consider the following statements about New Insolvency rules announced by RBI: 1. Banks will have to file for insolvency proceedings against loan defaulters with Rs 20 billion ($311 million) or more if a resolution plan is not implemented within 180 days of the initial occurrence of a default. 2. Any process involving restructuring or change in ownership for large accounts with loans of 5 billion rupees or more will need independent credit evaluation by credit rating agencies that are authorized by the RBI. Which of the following statements are correct? |
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