February 05, 2004
RBI/2004/42
DBOD No. BP. BC 66 / 21.04.117/2003-2004
Chairmen and Managing Directors
of all Public Sector Banks
Dear Sir,
Revised guidelines for compromise settlement of chronic
Non-Performing Assets (NPAs) of public sector banks upto Rs 10 crore
Please refer to our circular DBOD
No. BP.BC. 108/ 21.04.117 / 2002-2003 dated May 23, 2003 extending the time
limit for processing of applications for settlement of NPAs up to Rs. 10 crore
from 31st October 2003 to 31st December 2003.
2. In the context of requests received for extending the time
limit for operation of the guidelines, it has been decided, in consultation with
the Government of India, that applications for one time settlement of chronic
NPAs of public sector banks up to Rs. 10 crore may be received up to 31st
July 2004. Consequently, the last date for processing applications received
up to 31st July 2004 would also be extended to 31st
October, 2004.
3. Please acknowledge receipt.
Yours faithfully,
Sd/-
(C. R. Muralidharan)
Chief General Manager-in-Charge
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