Section 35ABCentral Act

Section 35AB: Power of Reserve Bank to issue directions in respect of stressed assets.

The Banking Regulation Act, 1949

¹[35AB. Power of Reserve Bank to issue directions in respect of stressed assets. --(1) Without prejudice to the provisions of section 35A, the Reserve Bank may, from time to time, issue directions to any banking company or banking companies for resolution of stressed assets.

(2) The Reserve Bank may specify one or more authorities or committees with such members as the Reserve Bank may appoint or approve for appointment to advise any banking company or banking companies on resolution of stressed assets.]

1. Ins. by Act 30 of 2017, s. 2, (w.e.f. 4-5-2017).

Sec 35AA — Power of the Central Government to authorize Reserve Bank for issuing directions to banking companies to initiate insolvency resolution process.

Sec 35B — Amendments of provisions relating to appointments of managing directors, etc., to be subject to previous approval of the Reserve Bank.

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