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DECLINE IN NPAS (Background (According to Economic survey 2018-19, the…

- - - - through Asset Quality Reviews and Joint Lenders’ Forum
      - Banks are now required to acquire Legal Entity Identifier (LEI) number from the borrower and report it to Central Repository of Information on Large Credit
    - - New Insolvency and Bankruptcy Code 2016 (IBC) has been enacted, which has provided for the taking over management of the affairs of the corporate debtor at the outset of the corporate insolvency resolution process
      - Amendment to the Banking Regulation Act, 1949 to empower the RBI
      - Amendment to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
      - Project Sakshat: to resolve the problem of NPAs through a market-led approach
    - - increase in aggregate deposits
      - infusion of capital by the Government
    - - Mission Indradhanush, 2015
      - PSB Reforms Agenda
      - Fugitive Economic Offenders Act, 2018
      - aligning the regulatory and supervisory frameworks for NBFCs with that of SCBs
      - 11 public sector banks were put under Prompt Corrective Action (PCA) last year
      - consolidation of Banks is also seen as a way out of the NPA issue through the “strong” banks