It was reported today that India’s President Pranab Mukherjee has given his permission to the rule dealing with the banking sector’s non-performing assets and loan. This will raise an amendment to the Banking Act related to non-performing assets of banks.
However, orator for the President Pranab Mukherjee has not put and commented on the permission on the rule. Moreover, Finance minister Arun Jaitley also declined to remark on the ordinance matter.
Before this on Wednesday Finance Minister Arun Jaitley had told that the cabinet had taken some important choices connected to the banking sector and he did not share the details. He also mentioned that decisions would require Presidential agreement.