FM ask Banks to Get rid of NPAs, clean up balance sheet at earliest
PrintListen to this Article
0:00
0:00
Finance Minister Arun Jaitley today said, the government has proactively taken measures to remove problems in stressed sectors and expressed the hope that the bad loans situation in the banking sector will improve for the better . Speaking to media after Quarterly Review Meeting of public sector banks in New Delhi today , Mr Jaitley said, there is an unacceptable level of bad loans at Indian banks and part of stress on banks is due to certain sectors. He asked the bankers to get rid of the past scars of Non Preforming assets ,NPAs and clean up their balance sheet at the earliest. Mr Jaitley assured them full support of the Government in this regard. The minster said, series of steps that have been announced by RBI in this direction will certainly improve on the quality of those assets. The gross NPAs of PSBs rose to 6.03 per cent at the end of June 2015, as against 5.20 per cent in March 2015.
On the issue of wilfull defaulters, Mr Jaitley said, the banks have full authority to deal with each of its dectors in prudent manner. He added when the bankruptcy law gets passed the ability of banks to get failed creditor to exit will increase. Mr Jaitley informed there were several suggestions made by bankers on steel and aluminium sector stress in the meeing and the department of financial services, department of revenue and the commerce ministry will look into these suggestions. Jaitley said that the government has received an overwhelming response to it social security schemes and there were discussions with bankers to further provide an impetus to these schemes.
On the issue of wilfull defaulters, Mr Jaitley said, the banks have full authority to deal with each of its dectors in prudent manner. He added when the bankruptcy law gets passed the ability of banks to get failed creditor to exit will increase. Mr Jaitley informed there were several suggestions made by bankers on steel and aluminium sector stress in the meeing and the department of financial services, department of revenue and the commerce ministry will look into these suggestions. Jaitley said that the government has received an overwhelming response to it social security schemes and there were discussions with bankers to further provide an impetus to these schemes.
Category : Banking | Comments : 0 | Hits : 587
The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002, has imp...
The government on Monday informed the Lok Sabha that all Scheduled Commercial Banks have written off nearly Rs 10.6 lakh crore in the last 5 years, out of which nearly 50 per cent belong to large indu...
The government has cleared the extension of tenure of managing directors of two public sector lenders -- Bank of Maharashtra (BoM) and Central Bank of India. According to sources, Appointments Co...
Comments