On Saturday Finance Minister Arun Jaitley said that RBI gave powers to recognize specific loans gone bad and enforce quicker resolution with the government amending the banking law through an executive order.
Meanwhile, yesterday. President Pranab Mukherjee has signed the ordinance to amend the Banking Regulation Act.
"Present status quo cannot continue. And the present status quo is that not much was moving," he said.
Also Read:
NPA ordinance signed by President Pranab Mukherjee to amend Banking Regulation Act
