Rajya Sabha passed the Banking Regulation Amendment Bill 2017

Posted on:12 Aug 2017 15:37:04
Rajya Sabha passed the Banking Regulation Amendment Bill 2017
12 August 2017 Current Affairs: The Rajya Sabha passed the Banking Regulation (Amendment) Bill, 2017, which was already passed by Lok Sabha (On July 24, 2017) and it replaces the Banking Regulation (Amendment) Ordinance, that was passed in May 2017.

Benefit of this bill:- It empowers the Reserve Bank of India (RBI) to give directions to banks to act against loan defaulters.

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