Government, legal experts and analysts welcomed the new RBI framework for NPA resolution saying the new norms offer leeway to both capital-starved lenders as well as borrowers at the same time ensure that credit discipline is maintained.
Welcoming the new norms announced by the central bank, which whittles down the February 12, 2018 circular struck down by the Supreme Court in April, commerce minister Piyush Goyal said the new stressed assets resolution framework offers "relief to businesses facing temporary financial issues, empower lenders to take decisions, improve credit availability in the economy and protect jobs,thereby boosting the economy."