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Insolvency and Bankruptcy Board of India inks MoU with RBI
The Insolvency and Bankruptcy Board of India (IBBI) signed Memorandum of Understanding (MoU) with Reserve Bank of India (RBI) for increased cooperation in effective implementation of insolvency law. The MoU was singed at time when authorities are working on ways ..
Month: Current Affairs - March, 2018
Lok Sabha passes Insolvency & Bankruptcy Code Amendment Bill, 2017
The Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill 2017 to pave the way for tightening loopholes in existing code and to make resolution process more effective. The Bill amends the Insolvency and Bankruptcy Code (IBC), 2016, ..
Month: Current Affairs - December, 2017
RBI brings Bank of India under Prompt Corrective Action
The Reserve Bank of India (RBI) recently had initiated prompt corrective action (PCA) measures against Bank of India (BoI) in the view of its high non-performing assets (NPAs) and insufficient capital. The RBI placed BOI under PCA consequent to the ..
Month: Current Affairs - December, 2017
Amitabh Kant Committee constituted to address NPAs in power sector
The Union Government has constituted high-level committee headed by NITI Aayog Chief Executive Amitabh Kant to address problem of Non-performing assets (NPAs) or stressed assets in India’s power sector. It comprises secretaries in the ministries of power, coal and department ..
Month: Current Affairs - December, 2017
Government notifies Banking Regulation (Amendment) Act, 2017
The Union Government has notified the Banking Regulation (Amendment) Act, 2017. The Parliament had approved the Banking Regulation (Amendment) Bill, 2017 which replaced an ordinance in this regard. It amended the Banking Regulation Act, 1949 by adding provisions for handling ..
Month: Current Affairs - August, 2017
Lok Sabha passes Banking Regulation (Amendment) Bill, 2017
The Lok Sabha has passed the Banking Regulation (Amendment) Bill, 2017 by voice vote. It will replace the Banking Regulation (Amendment) Ordinance, 2017. The bill seeks to amend the Banking Regulation Act, 1949 to insert provisions for handling cases related ..
Month: Current Affairs - August, 2017
Gross NPAs of PSBs touch over 6 lakh crores in July-September 2016
The Union Government has announced that the gross non-performing assets (NPAs) of the Public sector banks (PSBs) have touched around 66 lakh 40 thousand in the three months period from July to September 2016. As on September 30, 2016 gross ..
Month: Current Affairs - November, 2016
16 of 22 PSBs skip paying dividends to Government due to mounting NPAs
As many as 16 of 22 public sector banks skipped paying dividends to Government in fiscal 2015-16 due to issue of mounting bad loans. It has led to a 67% decline in government receipts to Rs. 1,444.6 crore. Only six ..