​​​
  1. Cabinet clears ordinance to amend Banking Act to tackle NPAs

Cabinet clears ordinance to amend Banking Act to tackle NPAs

The Cabinet today approved promulgation of an ordinance to amend the Banking Regulation Act for resolution of the NPA crisis facing public sector banks, top sources said.

By: | New Delhi | Published: May 3, 2017 10:31 PM
Without giving details, Finance Minister Arun Jaitley said the Cabinet has taken some important decisions in respect of the banking sector. (Source: IE)

The Cabinet today approved promulgation of an ordinance to amend the Banking Regulation Act for resolution of the NPA crisis facing public sector banks, top sources said.

PSBs are saddled with non-performing assets or bad loans to the tune of a staggering Rs 6 lakh crore.

Without giving details, Finance Minister Arun Jaitley said the Cabinet has taken some important decisions in respect of the banking sector.

“There is a convention that when some proposal is referred to the President, then details of it cannot be disclosed till it is approved. As soon as approval comes, details will be shared,” he said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. P
    pinky
    May 4, 2017 at 5:18 pm
    Great Information Google
    Reply

    Go to Top