PCA amendments to aid banks in prompt NPA management

The amendments to the Prevention of Corruption Act will give more room to public servants, including banks officials, to take decisions confident ly, Union Finance Minister A run Jaitley saidon Tuesday. The law, which deals with accountability of public servants, is in the final stages of itsamendingprocess.It’s before the standing committee and hope in the next session it comesup. The Prevention of Corruption Act ,1988, which con strains a lot of public servants, and also banking, he said. It will help them( PS B se xe cut iv es) take prompt action, especially on resolving stressed loans without fear of being punished for bona-fide decisions, Jaitley said, addressing SBI's Banking and Economics Conclave in Mumbai. Lack of decision making and consensus is hampering banks. The oversight committee to vet non-performing assets (NPAs) sale decision would also aid banks in decision making.