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The promulgation of Banking Regulation (Amendment) Ordinance 2017 will lead to effective resolution of stressed assets particularly in consortium or multiple banking arrangements

News and Press Release - Dated:- 5-5-2017 - The Ordinance enables the Union Government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed assets The promulgation of the Banking Regulation (Amendment) Ordinance, 2017 inserting two new Sections (viz. 35AA and 35AB) after Section 35A of the Banking Regulation Act, 1949 enables the Union Government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed .....

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