New panel under SBI chairman to review NPA transfers to NARCL; banks to track top 20 NCLT cases

A key development from the meeting is the formation of a new committee, led by the Chairman of State Bank of India (SBI), to examine and submit a fresh list of non-performing asset (NPA) accounts for transfer to NARCL, further enhancing its resolution pipeline.

NARCL has successfully acquired 22 NPA accounts, with a combined exposure of ₹95,711 crore, highlighting its critical role in resolving stressed assets. Additionally, 28 accounts, amounting to ₹1.28 lakh crore, have been resolved by banks after NARCL made offers, demonstrating its significant impact on the sector.

To improve the resolution process, banks have been instructed to closely monitor the top 20 NCLT cases at the Managing Director (MD) level, with senior officials, not below the rank of General Manager (GM), required to attend proceedings. Banks have also been urged to minimise procedural delays and refrain from seeking unnecessary adjournments.

In a bid to streamline information flow, the Ministry of Corporate Affairs (MCA) is also developing an integrated portal to provide real-time updates on NCLT cases, ensuring better coordination with banks and enhancing transparency in the resolution process.