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Rs 9.34 Trillion Bad Loans: President Approves Cabinet Proposal To Enable RBI To Tackle Them
On 3 May 2017, the Cabinet amended the Banking Regulation Act, 1949 to address India’s problem with bad loans and non-performing assets (NPAs). The Cabinet’s amendment put in place a scheme to resolve stressed assets in the banking system – which totalled to about Rs 9.64 trillion as of December...