1. Home
  2. Nation
  3. Presidential nod given to ordinance to tackle bad loans

Presidential nod given to ordinance to tackle bad loans

By Team Pardaphash 
Updated Date

New Delhi: Presidential nod was today provided to the ordinance empowering the Reserve Bank of India (RBI) to tackle bad loans of banks.

Also Read :- IMD forecast issues to continue heavy rainfall in these states for next 2-3 days, moderate rain alert in Delhi-NCR for next 2 days

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.

Also Read :- Uttarakhand accident: 25 killed and 21 rescued as bus falls into gorge in Uttarakhand's Pauri Garhwal
For the latest news and reviews, follow us on Facebook, YouTube and Twitter पर फॉलो करे...