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RBI To Get Power To Act Against Loan Defaulters, Cabinet Clears Ordinance
Ordinance gives RBI more teeth to act against wilful defaulters PSU bank bad loans were at Rs 5.02 lakh crore as of December 2016 Next session of Parliament starts sometime after second week of July
04 May 2017, 09:01 AM IST 
The ordinance may enable RBI to direct banks on how to deal with stressed assets.
Facing criticism on slow progress in acting against those who figure in the non-performing assets of banks list, the union cabinet today cleared an ordinance empowering the Reserve Bank of India (RBI) to act against wilful defaulters. The ordinance has been sent to the president for approval. The ordinance is aimed at empowering RBI to deal more effectively with stressed assets than earlier. A senior finance ministry official said "I...
