Bank of Maharashtra is in focus because the Reserve Bank of India (RBI) has initiated Prompt Corrective Action (PCA).
“As far as the liabilities are concerned, we are very much on track,” Ravindra P Marathe, MD & CEO of Bank of Maharashtra told CNBC-TV18.
He believes that, state governments coming out with farm loan waivers will prove to be a boon than a bane. According to him, bad debts will be recovered and it will allow the banks to do the fresh lending and the recoveries will be better.
Bank of Maharashtra’s gross non-performing assets (GNPAs) grew to the tune of Rs 7,000 crore in FY16-FY17.
“Our recovery has been quite strong, in the first two months we have been able to recover more than Rs 200 crore. Entire machinery is geared up. We will be doing some write-offs also. We want to contain our slippages,” he said.
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