Bankers to meet today to decide on large defaulters

The leading bankers are planning a meeting from today to discuss on their next course of action on bad loans accounts for referral to National Company Law Tribunal. The bankers will meet to discuss on the six of the 12 bad loan accounts named by RBI as the largest defaulters last week to face bankruptcy proceedings.

Since these are large accounts and involve multiple banks, the lenders will try to take a common view on all administrative requirements before referring these accounts to the NCLT. According to RBI, these 12 accounts owe Rs 2.5 trillion to the system, which constitute around 25 per cent of gross bad loans.