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Don't declare bad debts till next month: Supreme Court tells banks

SC directs banks not to declare bad debts

Shortpedia

Content Team
Image Credit: Shortpedia

The Supreme Court of India today directed the banks to not declare any accounts that were not already rated as non-performing assets on August 31, until further notice. The court passed the order in the view of the pending hearings over the Reserve Bank of India's (RBI) loan moratorium. The hearing is scheduled for September 28. This means the bank won't be declaring the bad debts till next month.


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