What was the purpose of Inter-Creditor Agreement signed by Indian ban...

UPSC Prelims 2019 Economy

What was the purpose of Inter-Creditor Agreement signed by Indian banks and financial institutions recently?

Explanation

The Inter-Creditor Agreement (ICA) signed by Indian banks and financial institutions is a mechanism to expedite the resolution of stressed assets, particularly in cases of consortium lending involving loans of Rs. 50 crore or more.

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