SC asks RBI for status report on panel views

Court will also take up case of debt-recovery tribunals

The Supreme Court on Friday directed the Reserve Bank of India (RBI) to state the action taken on a bad-loan report, by July. The court will also take up the case of debt-recovery tribunals, whose infrastructure has been found to be inadequate.
 
The report on non-performing assets (NPAs), filed by a panel set up by the government at the request of the court, has suggested reforms in lending practices of public sector banks and other financial institutions. It has proposed detailed norms for sanctioning loans, fixing personal liabilities of officers, and transparency in the lending process. Above all, the