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DEFAULTERS BEWARE, MORE TEETH TO BANKS (Government to amend two banking securitisation Act and debt recovery tribunal Act dealing with corporate defaulters).
(From India Business Insight)
The Finance Ministry, Government of India, plans to amend the Banking Securitisation Act and the Debt Recovery Tribunal Act (DRT) to strengthen the banks to deal effectively with corporate defaulters. The amendments target to reduce the non-performing assets of the banks and financial institutions.
Corporate defaulters …
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