News Details- (Get Professional Updates on Whatsapp, Msg on 8285393786) More News

RBI takes various steps for recovery of NPA: Jayant Sinha

Posted Date : 26-Apr-2016 , 05:29:28 pm | Posted By CASANSAAR print Print
The total outstanding of top one hundred of Non-Performing Accounts (NPA), borrowers of public sector banks stood at 1.73 lakh crore rupees as on 31st December 2015. The Reserve Bank of India has taken various steps for recovery of NPA.

These include formation of joint lenders’ forum for revitalizing stressed assets, flexible restructuring for long term project loans to infrastructure and core industries and strategic debt restructuring scheme. The information was given in the Rajya Sabha by the Minister of State for Finance Jayant Sinha today. 

He said the recovery in NPA accounts has increased from 66 thousand, 634 crore rupees in March 2014 to 74 thousand 130 crore rupees in March 2015. He said, the government has also taken specific measures to address issues in power, roads, steel, textiles and sugar sectors where the incidence of NPAs is higher. 

Besides, the government approved the setting up of six new debt recovery tribunals to speed up the recovery of loans. Mr. Sinha also said, a bill on the insolvency and bankruptcy code 2015 was introduced in the Lok Sabha in the winter session, which provides for establishing an insolvency regulator. #casansaar

Category : RBI | Comments : 0 | Hits : 497

Search News
News By Categories More Categories