RBI to come up with revised circular about bad loan.

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The Apex Bank will come up with revised circular to deal with resolution of stressed assets, said the RBI Governor Shaktikanta Das on Thursday.
Speaking after the RBI monetary policy committee, Mr Das said that the Supreme Court order struck down the February 12 circular regarding resolution of stressed assets but the validity of section 35AA of the Banking Regulation Act remains intact.
The court has said that power of RBI under Section 35AA has to be exercised in certain manner. The validity of section 35AA of the Banking Regulation Act 1949 stands and henceforth we have to comply with the direction of Supreme Court and act accordingly Das said.

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