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5
May 2017
An
ordinance empowering the Reserve Bank of India (RBI) to tackle bad loans of
banks got the Presidential nod on Friday. The
Total Investment & Insurance Solutions
President
Pranab Mukherjee signed the ordinance that will amend the Banking Regulation
Act to tackle the burgeoning non-performing assets of banks.
The
ordinance was sent to the President after it was cleared by the Union Cabinet
on Wednesday.
"This
ordinance will enhance the power of RBI to manage bad loans," Minister of
State for Finance Santosh Kumar Gangwar said.The Total Investment & Insurance Solutions
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