RBI to reconstruct Oversight Committee to Tackle Bad Loans
Posted on:23 May 2017 12:21:35
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23 May 2017 Current Affairs:
The Reserve Bank of India (RBI) is set to reconstruct oversight Committee to operationalise the banking ordinance which was recently cleared by the Union Cabinet to amend the Banking Regulation Act powers to Reserve Bank of India for effectively dealing with non-performing assets (NPAs) in the banking sector.
The existing Oversight Committee was constituted by the Indian Banks’ Association (IBA).
The main aim is to clear the bad loans reached over Rs 8 lakh crores.
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