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

1. The Inter-Creditor Agreement (ICA) was formulated based on the recommendations of the Sunil Mehta committee (Project Sashakt) and was signed by Indian banks and financial institutions in 2018. 2. The primary purpose of the ICA was to provide a framework for faster resolution of stressed assets (Non-Performing Assets - NPAs) involving multiple lenders (consortium lending). 3. It specifically targeted loans of ₹50 crore or more. 4. The agreement stipulated that if lenders representing 66% by value agree to a resolution plan, it would be binding on all signatory lenders, thus preventing delays caused by dissenting creditors. 5. Option (D) accurately describes this aim: to achieve faster resolution of stressed assets of ₹50 crore or more which are under consortium lending. 6. Options (A), (B), and (C) describe different objectives unrelated to the specific purpose of the ICA.