Get Flat 30% Discount on all Test-Series. Coupon Code
QM30
Current Affairs
Select Date
Tags:
Hindi

Parliament passes Enforcement of Security Interest and Recovery of Debts Laws Amendment Bill, 2016

Rajya Sabha on 9 August 2016 passed the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016. The bill seeks to amend four laws namely-
•    Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI)
•    Recovery of Debts due to Banks and Financial Institutions Act, 1993 (RDDBFI)
•    Indian Stamp Act, 1899
•    Depositories Act, 1996
•    The bill aims to improve ease of doing business and facilitate investment leading to higher economic growth and development.
•    The Bill increases the retirement age of Presiding Officers of Debt Recovery Tribunals from 62 years to 65 years.
•    It also increases the retirement age of Chairpersons of Appellate Tribunals from 65 years to 67 years.
•    It makes Presiding Officers and Chairpersons eligible for reappointment to their positions.
•    It allows banks to file cases in tribunals having jurisdiction over the area of bank branch where the debt is pending.
•    It states that under certain procedures will be undertaken in electronic form.
•    It provides details of procedures that the tribunals will follow in case of debt recovery proceedings.

Try SSC CGL Mock test series

ABOUT US

Qmaths is a platform created by SSC CGL 2012 Successful Candidates to guide the new aspirants for SSC Exams. With time Qmaths has been proven to be the most Trusted and Genuine Name in the field of competitive examinations due to effective guidance and motivation to aspirants.

GET EXAM ALERTS


CONTACT US

TopRankers-Info [email protected]
TopRankers-Info [email protected]
TopRankers-Contact 080 66560760

Site Maintained by TopRankers.com