RBI begins talks with stakeholders on debt recast plan

No timelines specified but there is a definite sense of urgency

After outlining loan recast plan, Reserve Bank of India (RBI) has begun dialogue with stakeholders, including bankers and insolvency professionals, to work on their role details and timelines.
 
There is a definite sense of urgency, though no timelines have been specified as of yet. This was the first meeting after RBI's statement on Monday on future steps for prompt resolution of troubled assets, banking sources said.
 
RBI is expected to grow a framework for an "objective and consistent" decision-making process for resolution under the Insolvency and Bankruptcy Code, 2016.
 
RBI's plan includes reconstituting oversight committee (OC).