The Cabinet on Wednesday reportedly gave approval to a proposal to amend 'Section 35 A' of the Banking Regulation Act. According to reports, the amendment will empower the RBI to consider wilful default a criminal offence. The ordinance is yet to be approved by the President. Notably, the public sector banks in India has Rs 5.02 lakh crore as NPAs in 2016.
By Praveen | May 4, 2017 8:54 AM #NPA #CriminalAct #Ordinance
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