Union Cabinet clears ordinance to tackle bad loans of banks

Posted on:04 May 2017 12:41:37
Union Cabinet clears ordinance to tackle bad loans of banks
04 May 2017 Current Affairs:

  • The Union cabinet cleared ordinance to amend Banking Regulation Act for the issue of Non Performing Assets(NPA) in the banking system.

  • The Act will add more powers to the Reserve Bank of India (RBI) to monitor other bank bad loans to solve NPA crisis.

  • Currently Public sector banks are burden with bad loans around 6 crores.


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