The Viewpoint: Banking and Financial Sector – The Unconventional Budget

The Viewpoint: Banking and Financial Sector – The Unconventional Budget

The Union Budget 2017-18 (“Budget“), presented by the FM for the banking and financial service sector has been a departure from the conventional practice. Yet, this was not entirely unexpected considering several other startling policy/regulatory initiatives and reforms, such as the ground breaking reforms in restructuring, long-pending implementation of the Insolvency and Bankruptcy Code, amendments in the SARFAESI and Debt Recovery Tribunal Acts and of course the demonetization that the sector has already witnessed in the year 2016-17.

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