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Parliamentary panel to assess if RBI lacks powers to tackle NPAs

The panel tasked the upcoming committee to probe the RBI's regulatory powers to ascertain whether the government or the central bank is capable of preventing bad loans in state-owned banks.

 
 
This comes as a major relief for the bank, which was barred by the apex bank from opening bank accounts in June after it failed to stick to the RBI norms.
In India, financial year runs from 1st April to 31st March of next year. Hence, you need to prioritise your financial obligations until the due date arrives.
The Reserve Bank of India has asked banks to ensure that their customers migrate to debit and credit cards with EMV chips by the end of this year.
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