With the closure of Reserve Bank of India’s (RBI) deadline to resolve the 28 identified large stressed accounts in the second list, banks are gearing up to refer as many as 24 of them for insolvency proceedings.

In the month of August, 2017, RBI asked banks to either resolve the 28 more large stressed accounts or refer them to the National Company Law Tribunal (NCLT) by 31 December. These accounts together account for 40% of bad loans of around Rs4 trillion.

Source: Livemint