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President Pranab Mukherjee approves ordinance on Non-performing Assets

 2017-05-05 04:33:26.0

President Pranab Mukherjee approves ordinance on Non-performing Assets

Tahlka News Bureau
New Delhi: President Pranab Mukherjee have approved an ordinance that amends the Banking Regulation Act on Friday. The amendment gives the Reserve Bank of India more powers to deal with non-performing assets (NPAs) in the banking sector. The RBI can now take action against loan defaulters and defaulting companies under the bankruptcy code.

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