Mumbai, Jan 21 (IANS) Reserve Bank of India's (RBI) Deputy Governor Viral Acharya has suggested that banks, asset reconstruction companies and credit rating agencies can come together to set-up an online platform for sale of NPAs (non-performing assets) in India.
According to Acharya, the platform will help India achieve a "thriving market" for sale of NPAs.
"IBA (Indian Banks' Association), ARCON (Association of Asset Reconstruction Companies) and CRAs (credit rating agencies) can come together to set up the equivalent of Loan Syndication and Trading Association (LSTA) in the United States," Acharya said on Saturday at an event held here.
He was speaking at the inauguration of 'Assocham Arcon 2018 - ARCs: Emerging avatar in new distressed landscape'.
"My recommendation or at least I would encourage various players to discuss whether there is value to building something like this as the United States has built it over the period of time and South Korea has built it during the crisis and then it became an industry standard for doing loan sales thereafter," said Acharya.
New Delhi, Jan 21 (IANS) Prime Minister Narendra Modi on Sunday said some "people" tried to sabotage "demonetisation" but the exercise was seen through successfully because the nation stood behind the decision.
In an interview given to TV channel Times Now, Modi, without referring to anyone specifically, said "they" tried to derail the demonetisation exercise through various means to "save corrupt people".
"People tried to start a fire, they even attempted to incite riots, they knocked on Supreme Court's door, they tried everything possible. These attempts were to save those who were hoarding black money, to save corrupt people, to save the dishonest," he said.
He said demonetisation was not just a change of currency and the way it was carried out got the world's respect.
"Several small countries of world tried to carry out demonetisation in their lands but retreated. It is India's great success that this was not just a change of one currency with another, but the way country's federal structure, it's governance, it's common man, RBI's role... is enough to get it respect of the world," he said.