Central Govt, on the recommendation of the Reserve Bank of India, hereby declares that sub-section (1) of section 15 of the Banking Regulation Act, 1949 shall not apply to scheduled commercial banks in so far as the amortisation over a period of two years of any shortfall arising out of sale of non-performing assets effected from 26th February, 2014 to the 31 March, 2015.

No: 757 Dated: Apr, 10 2015

Central Govt, on the recommendation of the Reserve Bank of India, hereby declares that sub-section (1) of section 15 of the Banking Regulation Act, 1949 shall not apply to scheduled commercial banks in so far as the amortisation over a period of two years of any shortfall arising out of sale of non-performing assets effected from 26th February, 2014 to the 31 March, 2015.