Next set of NPAs must have credit rating: RBI

Tough to comply with the norm, say bankers

A resolution plan finalised for the next set of stressed assets identified by the Reserve Bank of India (RBI) will be subject to a rating requirement if the plan for resolving their bad debts falls outside the scope of the Insolvency and Bankruptcy Code (IBC).

The central bank has conveyed to the banks that if any resolution plan is finalised outside the ambit of the IBC, the residual debt would have to be rated as investment grade by two external credit rating agencies for bank loan rating.

In case the plan fails to get the rating, the accounts would be referred for