Photo: Aniruddha Chowdhury/MintMumbai: The Reserve Bank of India (RBI) on Tuesday said 12 accounts representing about 25% of the gross bad loans in the banking system would be eligible for immediate reference for bankruptcy proceedings. ALSO READ: Bhushan Steel, Essar Steel, Alok Industries among likely targets of RBI’s bankruptcy proceedingsRBI did not disclose the names of the accounts. So far, 81 cases of bad loans have been referred to NCLT, finance minister Arun Jaitley said on Monday after meeting bank chiefs. RBI also said that it would detail revised provisioning norms for cases accepted under the bankruptcy code. The details of the resolution framework for these other non-performing accounts will be released in the coming days, it said.

Source: Mint June 13, 2017 15:30 UTC