Newly-appointed Reserve Bank deputy governor Viral V Acharya called for some urgent steps to resolve NPAs, saying none of the "piece-by-piece approach" offered so far has worked, including the AQR, simply because of "the many discretions given to banks" as also their "skewed incentive system". He also said even the December 2015 asset quality review (AQR) by the central bank has not helped resolve the issue, except in turning public attentions to the same. Stating that timely resolution of NPAs is of the essence if we were to restore corporate investment and create jobs, Acharya asked bankers to take NPA resolution "with a certain sense of urgency." "I wish to speak, with a certain sense of urgency, about the need and possible ways to decisively resolve our banks' stressed assets," he said in a speech 'Some ways to decisively resolve banks' stressed assets,' delivered at an IBA event here this evening.
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