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FM Jaitley On Economy: Committed To Capitalising PSU Banks | Breaking News | CNBC-TV18

875 views · Published 25 September 2018 · 11:27 · Indexed 23 September 2026

Channel: CNBC-TV18 · 2018 · News & Politics

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Union finance minister Arun Jaitley on Tuesday said non-performing assets (NPA) of public sector banks (PSB) are on the decline as recoveries have picked up, but it's a challenge to loan growth.

Speaking to reporters after the annual review meet with top public sector bankers, Jaitley said last several years have been challenging for PSB as large amount of lending was held up in NPAs.

But the impact of Insolvency and Bankruptcy Code (IBC) led resolutions are clearly visible in today's review meeting and had a challenge of how to crack this NPA problem over past few years, he said.

Finance minister said recoveries have not just picked up because of National Company Law Tribunal (NCLT) resolutions, but also borrowers are paying up in anticipation of losing companies.

"We are passing through a phase of good growth as far as the economy is concerned. Consumption has moved up, and therefore the banking activity is bound to pick up," Jaitley said.




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