RBI to authorizeThe promulgation of the Banking Regulation Amendment
Posted on:06 May 2017 15:18:00
Free Current Affairs to Your Email
06 May 2017 Current Affairs:
The promulgation of the Banking Regulation (Amendment) Ordinance, 2017 inserting two new Sections (viz. 35AA and 35AB) after Section 35A of the Banking Regulation Act, 1949 enables the Union Government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed assets by initiating insolvency resolution process.
The recent enactment of Insolvency and Bankruptcy Code (IBC), 2016 has opened up new possibilities for time-bound resolution of stressed assets.
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act(SARFAESI) and Debt Recovery Acts amended to facilitate recoveries for timely resolution of stressed assets.
FreshersLive - No.1 Job site in India. Here you can find latest 2018 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.