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President Mukherjee clears ordinance on Non-Performing Assets
May 05, 2017
President Pranab Mukherjee on Friday approved the ordinance on Non-Performing Assets (NPA).
The
ordinance will give greater powers to the Reserve Bank of India (RBI)
to tackle mounting bad loans, according to an official in the finance
ministry aware of the development.
Earlier, the Union Cabinet had
approved promulgation of an ordinance to amend the Banking Regulation
Act for resolution of the non-performing asset (NPA) crisis.
The
Cabinet also gave its nod to the National Steel Policy- 2017 which
targets to achieve 300 Million tonne of steel making capacity by 2030
with an additional investment of ten lakh crore rupees
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