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Government taking measures to deal with bank NPAs: Arun Jaitley

India blooms News Service | | Apr 27, 2016, at 07:48 pm

#Arun Jaitley # Government taking measures

New Delhi, Apr 27 (IBNS) Speaking at the Second Meeting of the Consultative Committee attached to the Ministry of Finance on the subject: â€œNPAs in Banking Sectorâ€ on Wednesday, Union Finance Minister, Arun Jaitley said that the Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector especially in case of Public Sector Banks (PSBs).

The Finance Minister said the Government has taken measures to deal with both categories of defaulters, viz. those who are unable to pay back due to economic slowdown both in domestic and global market and other reasons outside their control and the wilful defaulters, including loans sanctioned without due diligence by the banks.

He further said that in order to deal with default due to economic slowdown, the Government has taken steps to revive the stressed sectors, including steel, textiles, power and roads.

He said that the Government has also done recapitalization of banks by providing Rs. 25,000 crore in the Union Budget 2015-16 as well as in this year’s budget.

Jaitley said that the Bankruptcy Law has been cleared by the Joint Parliament Standing Committee and is likely to be discussed in the current Budget Session of the Parliament.

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