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RBI’s 12th February circular: The Last Word Becomes the Lost World

April 5, 2019[2019] 104 taxmann.com 91 (Article)
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The 12th February 2018 circular of the Reserve Bank of India (RBI), arguably one of the sternest of measures requiring banks to stop ever-greening bad loans, and resolve them once for all, with a hard timeline of 6 months, or mandatorily push the matter into insolvency resolution, was aimed at being the last word, overriding several of the previous measures such as CDR, JLF, SSSS-A, etc.
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