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Today Finance Ministry to hold meet to review NPA issue

Today Finance Ministry to hold meet to review NPA issue

New Delhi: In sequence to review the bad loans problem existing in specific sectors, Finance Ministry on Monday has called a conference with senior managers of banks. The agenda of meet will be pointed on non-performing assets (NPAs) in sectors like steel, power & infrastructure, sources said.

These three sectors account for bulk of gross NPAs which surged to 9.32 % (Rs 4.76 lakh crore) in 2015-16.

The conference would be attended by CEO & Executive Directors of many public sector banks, sources said, adding, senior officials from the steel, power and road transport ministries would also be present there.

During the previous two years, the Reserve Bank of India has taken estimates to clean up balance sheet of banks and the goal set for the same is March 2017.

Finance Minister Arun Jaitley, earlier this week had said banks should impose their right and recover dues in the larger interest of the economy.

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