Bankers don't want a new NPA resolution plan

Implement the existing one properly to clean up the mess

The proposal, announced on Tuesday, to float two asset management companies to tackle bad debt in banks is not seen as a new idea.

Instead, bankers and analysts say the system can’t afford yet another plan for this. Rather, the existing ones should be implemented speedily. If the new ideas, discussed by Reserve Bank of India deputy governor Viral Acharya, could be implemented with minor modifications and quickly enough, everyone will welcome it.

Acharya suggested two asset management companies be floated. A private one for resolution of sectors that have near-term economic value and a quasi-government one that will take care of