Union Cabinet clears ordinance to tackle bad loans of banks: Sources

Union Cabinet clears ordinance to tackle(सुलझाना)  bad loans of banks

NEW DELHI: The Union Cabinet on Wednesday approved promulgation (प्रचार) of an ordinance to amend the Banking Regulation Act for resolution of the NPA crisis facing public sector banks, top sources said. Finance ministry sources said the ordinance on NPA resolution will empower(सशक्त)  the Reserve Bank of India to issue direction to banks to effectively resolve bad loans. 

Public Sector Banks are saddled(झुक जाना) with non-performing assets or bad loans to the tune of a staggering(लड़खड़ाहट) Rs 6 lakh crore. Without giving details, Finance Minister Arun Jaitley said the Cabinet has taken some important decisions in respect of the banking sector. "There is a convention that when some proposal is referred to the President, then details of it cannot be disclosed (खुलासा) till it is approved. As soon as approval comes, details will be shared," he said.

Definitions of tackle 

सुलझाना

noun

the equipment required for a task or sport.

fishing tackle

synonyms: gear, equipment, apparatus, kit, hardware, implements, instruments, accoutrements, paraphernalia, trappings, appurtenances, things, stuff, bits and pieces, equipage

a mechanism consisting of ropes, pulley blocks, hooks, or other things for lifting heavy objects.

They pumped out water and used ropes and tackle to lift and pull pieces of the aircraft apart to conduct a search for hazardous components.

synonyms: pulleys, gear, hoist, crane, winch, davit, windlass, sheave

an act of seizing and stopping a player in possession of the ball by knocking them to the ground.

He does not break as many tackles as one might expect from a player of his dimensions.

synonyms: block, interception, challenge, attack

a player who lines up inside the end along the line of scrimmage.

The team is serious about drafting a right offensive tackle in the early rounds.

verb

make determined efforts to deal with (a problem or difficult task).

police have launched an initiative to tackle rising crime

synonyms: come to grips with, address, get to work on, set one's hand to, approach, take on, attend to, see to, try to sort out, deal with, take care of, handle, manage, have a crack at, have a go at

Fewer definitions