The promulgation of Banking Regulation (Amendment) Ordinance, 2017 will lead to effective resolution of stressed assets, particularly in consortium or multiple banking arrangements https://www.taxtmi.com/news?id=17981 The ordinance creates two new statutory provisions empowering the Union Government to authorize the central banking regulator to direct banking companies to resolve specified stressed assets, including initiating insolvency resolution where necessary, issuing other resolution directions, and appointing or approving authorities or committees to advise on stressed asset resolution, with particular application to consortium or multiple banking arrangements. en-us Fri, 05 May 2017 18:05:18 +0530 Fri, 05 May 2017 18:05:18 +0530 TaxTMI RSS Generator The promulgation of Banking Regulation (Amendment) Ordinance, 2017 will lead to effective resolution of stressed assets, particularly in consortium or multiple banking arrangements https://www.taxtmi.com/news?id=17981 The ordinance creates two new statutory provisions empowering the Union Government to authorize the central banking regulator to direct banking companies to resolve specified stressed assets, including initiating insolvency resolution where necessary, issuing other resolution directions, and appointing or approving authorities or committees to advise on stressed asset resolution, with particular application to consortium or multiple banking arrangements. News - Fri, 05 May 2017 18:05:18 +0530 https://www.taxtmi.com/news?id=17981