Union Government notifies Banking Regulation Amendment Act

Last Updated: August 28, 2017

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Union Government notifies Banking Regulation Amendment Act
28 August 2017 Current Affairs: The Union Government notified the Banking Regulation (Amendment) Act, 2017.
The Parliament approved the Banking Regulation (Amendment) Bill, 2017 which replaced an ordinance in this regard.
It empowers the Central government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed assets.

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