NPA resolution ordinance & PCA will help banks tackle NPA menace: Karnataka Bank

In an interview to CNBC-TV18, Mahabaleshwar MS, MD & CEO of Karnataka Bank spoke about the results and his outlook for the company.

“Non-performing assets (NPA) resolution ordinance of central government and the prompt correction action initiated by Reserve Bank of India (RBI) are in right direction and are going to help the banks to attempt this NPA menace in its right perspective”, he said.

He further said, “Eventually we will have a very strong financial system down the line. It is going to strengthen the entire banking industry in the days to come”.

Speaking about slippages, he said that it is the problem that is being faced by the industry.