Highlights 1 Lenders are asked to initiate insolvency proceedings to recover the dues. 2 The banking sector is saddled with NPAs worth over Rs 8 lakh crore. Without naming the defaulters, the Reserve Bank said the lenders would be asked to initiate insolvency proceedings to recover the dues. The banking sector is saddled with NPAs worth over Rs 8 lakh crore, of which Rs 6 lakh crore is with public sector banks (PSB). The apex bank, based on the recommendations of the IAC, will accordingly be issuing directions to banks to file for insolvency proceedings under the IBC in the identified accounts.

Source: India Today June 13, 2017 15:22 UTC