Piyush Goyal bats for easier bad loan norms, says every default not NPA on 90th day


Piyush Goyal bats for easier bad loan norms, says every default not NPA on 90th day

Finance minister Piyush Goyal on Friday, advocating easier norms for recognition of NPAs, came out in support of some borrowers who are not able to repay their loans in 90 days.

In a post-budget interaction with the industry members, Goyal said that a borrower cannot be classified as defaulter in case companies like discoms fail to pay their bills on time, PTI reported.

The minister citing a case wherein the discom didn’t pay the amount it owed to a power producer said the latter does not become a defaulter here.

“Law cannot be blind, wherein in 90 days arithmetically it becomes a non-performing asset (NPA).  Read More

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