What options are open to the President when an Ordinary Bill is sent for his Assent?

The President has the following options when an Ordinary Bill is sent for his assent-

1. The President may withhold assent to a Bill or may send it back for reconsideration.
2. The Constitution does not prescribe "any time-limit within which the President is to declare his assent or refusal or return the Bill for reconsideration." The President is at liberty to decide what is right or proper.