Govt, RBI taking tough action to recover bank dues: PM Modi

Gross Non Performing Assets (NPAs) of public sector banks (PSBs) increased from Rs 2,67,065 lakh crore in March last year to Rs 3,61,731 lakh crore in December.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Masteryourmoney Earnings
moneycontrol.com

Home » News » Economy

Mar 29, 2016, 04.11 PM | Source: PTI

Govt, RBI taking tough action to recover bank dues: PM Modi

Gross Non Performing Assets (NPAs) of public sector banks (PSBs) increased from Rs 2,67,065 lakh crore in March last year to Rs 3,61,731 lakh crore in December.

Like this story, share it with millions of investors on M3

Govt, RBI taking tough action to recover bank dues: PM Modi

Gross Non Performing Assets (NPAs) of public sector banks (PSBs) increased from Rs 2,67,065 lakh crore in March last year to Rs 3,61,731 lakh crore in December.

Post Your Comments

Share Cancel

Govt, RBI taking tough action to recover bank dues: PM Modi
Amid rising concern over default by large borrowers like liquor baron Vijay Mallya, Prime Minister Narendra Modi today stressed that the government as well as RBI is taking "tough action" to recover loans from corporate defaulters.

"The only segment showing an increase in (corporate rating) downgrades is highly leveraged large firms. The government and Reserve Bank have taken tough action to recover dues from large corporate defaulters. Perhaps the noise from this segment has influenced media perceptions," he said at Bloomberg India Economic Forum here.

Gross Non Performing Assets (NPAs) of public sector banks (PSBs) increased from Rs 2,67,065 lakh crore in March last year to Rs 3,61,731 lakh crore in December.

There was an increase of Rs 94,666 crore over the nine months of the current fiscal.

The gross NPAs of PSBs increased from 5.43 percent as on March last year to 7.30 percent in December.

Even Finance Minister Arun Jaitley in a stern warning to wilful defaulters had yesterday said they should settle dues honourably with the banks or else be ready to face "coercive action" by lenders and investigative agencies.

"I don't want to make any comments on individual cases but I think it's a responsibility of large groups like his (Vijay Mallya's) to honourably settle their dues with the banks," he said.

Prime Minister said there has been a smart pickup in credit growth after September.

"Credit off-take between February 2015 and February 2016 increased by 11.5 percent. The overall fund flow to corporate sector through equity and borrowings of various kinds, domestic and foreign, has increased in first three quarters of 2015-16 by over 30 percent," he said.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Govt, RBI taking tough action to recover bank dues: PM Modi

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login