''The central bank's action comes after a series of directions from it to banks to try the big defaulters under the bankruptcy laws enacted in 2016. While banks were still getting used to the new law, the many restructuring plans that were in force for years were continuing. 5 crores have to be reported on weekly basis.It also mandated that banks act quickly to resolve the big defaults. 2,000 crores, the resolution plan has to be implemented within 180 days from March 1. For defaults after that date, it has to be done within 180 days from the day of default.``For other accounts with aggregate exposure of the lenders below Rs.

Source: Economic Times February 12, 2018 17:37 UTC