Cabinet clears ordinance to amend Banking Act to tackle NPAs
PSBs are saddled with non-performing assets or bad loans to the tune of a staggering Rs 6 lakh crore.
Without giving details, Finance Minister Arun Jaitley said the Cabinet has taken some important decisions in respect of the banking sector.
"There is a convention that when some proposal is referred to the President, then details of it cannot be disclosed till it is approved. As soon as approval comes, details will be shared," he said.
Disclaimer: No Business Standard Journalist was involved in creation of this content