The Reserve Bank of India today released on its website, ‘Review of Prudential Guidelines on Restructuring of Advances by Banks and Financial Institutions’ – Draft Guidelines for comments and feedback.

Comments / feedback on the draft guidelines may be sent by February 28, 2013 to the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office Building, 12th Floor, S.B. Singh Marg, Mumbai –400001 by email.

Background

The Monetary Policy Statement of April 2012 had indicated review of the existing prudential guidelines on restructuring of advances by banks/financial institutions by a Working Group (Chairman: Shri B. Mahapatra). The report of the Working Group was submitted in July 2012 and was placed on the website of the Reserve Bank inviting comments from the stakeholders. Accordingly, it was announced in the second quarter review of the monetary policy for 2012-13 that the recommendations of the Working Group as also the comments / suggestions received in this regard were under examination and draft guidelines would be issued by end-January 2013.

Sabeeta Badkar
Assistant Manager

Press Release : 2012-2013/1290