Union Government to come out with 2nd PSB recapitalization plan Indradhanush 2.0
The Union Government is planning to come out with ‘Indradhanush
2.0’ a comprehensive plan for recapitalization of Public Sector Lenders. The
aim of plan to make sure they remain solvent and fully comply with global
capital adequacy norms, Basel-III.
IndraDhanush 2.0 will be finalized by RBI (Reserve Bank of
India) after completion of Asset Quality Review (AQR). Asset Quality Review is
likely to be completed by end of March 2017.
About Asset Quality Review:
Asset
Quality Review exercise was set out by RBI in December 2015 and asked banks to recognize some top defaulting accounts as non-performing Assets and make
necessary provisions for them. RBI has set a deadline of March 2017 to complete
this exercise.
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