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Besides, these NPAs have been piling up.The delay in resolution of NPA (non-performing assets) is impacting the capacity of banks to lend to support growth and lend to small investors, the Finance Minister said. The interest is increasing so the bad debts are increasing, he said, in response to a members query on the urgency of bringing in the legislation that will replace an ordinance.

The bill, which amends the Banking Regulation Act, 1949, will replace the Banking Regulation (Amendment) Ordinance, 2017, that enabled the Reserve Bank of India (RBI) earlier in the matter.IANSbc-mak-mm/dgPost Source: Ians feed. NPAs of banks have risen to over Rs 8 lakh crore and the RBI is now being given power to refer these cases to the Insolvency and Bankruptcy Board. You ask what is the urgency it is already too late, Jaitley said replying to the debate in the Rajya Sabha on the Banking Regulation (Amendment) Bill which allows the Centre to authorise the RBI to direct banks to initiate recovery proceedings against loan defaulters. He said defaulting companies cannot ask why it was being targeted when some other defaulters were being let free.The bill inserts a provision to state that it will also be applicable to the State Bank of India, its subsidiaries, and Regional Rural Banks.Action has already begun under the Insolvency and Bankruptcy Code against some of these defaulters, including Essar Steel, Bhushan Steel and Bhushan Power and Steel.It also has provisions empowering the RBI to issue directions to banks for resolution of stressed assets.

New Delhi, Aug 10 (IANS) The Banking Regulation (Amendment) Bill empowering the Reserve Bank of India to direct lenders to act against big defaulters was accorded parliamentary approval on Thursday with the Rajya Sabha adopting the measure and Finance Minister Arun Jaitley underlining the urgency of resolving the banks bad loans issue as it was affecting their capacity to support growth.The sectors most responsible for the accumulated NPAs are steel, power, textiles and infrastructure.Loans tu into NPAs 90 days after the debtor loses the ability to service the loan by way of interest payments or by repayment of the principal amount.Under the bill, the central govement may authorise the RBI to issue directions to any banking company to initiate insolvency in respect of a default under the provision of the Insolvency and Bankruptcy Code.Jaitley told the Lok Sabha last month when the lower house Auto accessories Suppliers approved the measure that a company defaulting on loans cannot claim the right of equality in treatment as regards repaying the loans.

The banks will slowly start realising the money, companies will continue to function, the jobs at the company will be saved thats why the urgency, he added.41 lakh crore.Last month, the RBI identified 12 large loan defaulters who account for 25 per cent of the total NPAs, or bad loans, in the banking sector.Replying to the debate on the Bill, Jaitley said non-performing assets (NPAs), or bad loans, of public sector banks as on March 31 of this year had steadily increased to reach the staggering amount of Rs 6. Besides, taken together with the figure of stressed assets, the bad loans of state-run banks added up to over Rs 8 lakh crore

This collection pushes the boundaries on the perception of handwoven textiles by infusing playfulness while tightly retaining the highest quality of the craft of handweave.The Winter Rose is inspired by the westeised interpretation of the sari usually wo by the princesses in the warm climate of India to acclimatise to the cold, windy London and Paris during their visits while fully retaining their opulence and glamour.

The five-day fashion week will start from Wednesday and the designer will showcase on Friday.I am paying homage to the princesses in his opulent handwoven silk saris and lehngas that lovingly hold in its warp and weft all that was dear to these ‘Beauties with a Purpose, said the designer in a statement.Mumbai, Aug 14 (IANS) Actress Radhika Apte will walk Automotive Gas Springs Manufacturers for designer Sailesh Singhania, who will showcase his collection titled The Winter Rose at Lakme Fashion Week (LFW) Winter/Festive 2017.The silhouettes are weste with long over-coats, trench, pea coats with high collars in remembrance of our Royal roses while travelling in Europe, caused a furor among the onlookers who thronged to get a glimpse of their beauty and impeccable, unequalled styleIANSnv/mrPost Source: Ians feed. The colours are a celebration of festive winters with ruby red, celebratory orange, royal purple, fuchsia pink, emerald green with luxurious vintage gold zari work, said the designer

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　　New Delhi, Sep 20 (IANS) Prime Minister Narendra Modi has invited noted gastroenterologist and liver transplant surgeon Saumitra Rawat to be part of the Swachhata Hi Seva initiative, saying that his contribution will be instrumental in building a clean and healthy India. Your involvement in the cleanliness initiative would be instrumental building a clean and healthy India.I will contribute to the govements initiative in the best possible way.Appreciating the govements Auto Gas Springs efforts to realise the importance of medical professionals, Rawat said that cleanliness is the key to keep several diseases away.

I personally invite you to lend your support to the Swachhata Hi Seva and dedicate some time for the cause of Swachh Bharat, reads the letter by Modi to Rawat.Rawat quit his 17 years of medical practice in the United Kingdom and joined Delhis Sir Ganga Ram Hospital. Various non-communicable and communicable diseases are caused due to filth in our surroundings. We should all make the country clean, Rawat told IANS.Your contribution to the field of medicine has helped the nation attain distinction in the healthcare sector globally as well as provided relief to the ailing.