Which of the following steps, taken by the government, will resolve the crisis of Non-Performing Assets in banking in India?
1. Bank recapitalization
2. Bank consolidation
3. Prompt Corrective Action
4. The Insolvency and Bankruptcy Code
Select the correct answer using the code given below:
3 and 4 only
1, 2 and 4 only
1 and 2 only
1, 2 and 3 only
• Bank recapitalization is done in order to enhance the financial health of the banks, which are affected by bad quality assets. Thus, it does not resolve the existing burden of NPAs (Non-Performing Assets) of the banks.
• Bank consolidation involves merger of banks, which does not directly reduce the burden of NPAs.
• Prompt Corrective Action is aimed at bringing discipline in banking by imposing a number of restrictions, including branch expansion, limits on lending, etc. Thus, it will help in tackling NPAs.
• The Insolvency and Bankruptcy Code is aimed at fast racking insolvency process, thereby helping both financial creditors (banks and FIs) and operational creditors (suppliers) recover the loans in a time bound manner.
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