Setting a stiff target for all public sector banks, the Finance Ministry has directed them to expedite the recovery process and bring down net NPAs to 1 percent of their total advances by the end of 2013-14 fiscal.
"We have asked banks to bring down their net NPA to 1 percent of the total advances by March 2014," Department of Financial Services Secretary Rajiv Takru said.
Also read: RBI penalises JP Morgan Chase Bank for violating norms
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