The Union Minister of Finance, Defence and Corporate Affairs Shri Arun Jaitley will be leaving on a three day official visit to Japan tomorrow to participate in the Annual Meeting of Board of Governors’ of Asian Development Bank (ADB) and the Spring Meeting of the Institute of International Finance (IIF) among others.

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The Union Minister of Finance, Defence and Corporate Affairs, Shri Arun Jaitley is leaving on a three-day official visit early morning tomorrow, i.e. 6th May, 2017 for Japan to participate in the Annual Meeting of Board of Governors

The promulgation of Banking Regulation (Amendment) Ordinance, 2017 will lead to effective resolution of stressed assets, particularly in consortium or multiple banking arrangements

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The promulgation of the Banking Regulation (Amendment) Ordinance, 2017 inserting two new Sections (viz. 35AA and 35AB) after Section 35A of the Banking Regulation Act, 1949 enables the Union Government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed assets by initiating insolvency resolution process, where required.