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Mechanism soon to fix banking bad loan issue, says SS Mundra
RBI Deputy Governor SS Mundra on Thursday said a mechanism will be worked out soon in consultation with the Government to deal with the problem of mounting bad loans in the banking sector.
“It is difficult to put a time... It could be very near. My sense says there is so much of seriousness and engagement and so much of discussions have already taken place. It should not be something that which should be indefinite or very prolonged,” he said.
He was responding to queries related to bad loans in the banking sector during an interview to CNBC-TV18.
The gross NPAs of public banks rose to Rs 6.06 lakh crore in December 2016, from Rs 5.02 lakh crore at March-end of 2016.
Last month, Finance Minister Arun Jaitley had said a resolution was being worked out with the Reserve Bank that would put enough pressure on borrowers to settle dues.
He had blamed the bad loans of public sector banks on just 30-50 companies, saying accounts of these would have to be fixed to solve the issue.
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Sunday EditionView All
11 Mar 2018 | PTI | Beijing
An elderly woman in China on Saturday vandalised the stall of a fortune teller who wrongly predicted her death, according to a media report. The fortune-teller told the 70-year-old womanin Mianyang in southwestern Sichuan province in March last year that she would not live to see 2018...
STATE EDITIONSView All
17 Mar 2018 | Staff Reporter | Bhopal
Leader of the Opposition in the State Assembly Ajay Singh and Pradesh Congress Committee (MPCC) president Arun Yadav on Friday called on Chief Election Commissioner OP Rawat and urged him to get investigated the matter related to large scale irregularities in the electoral rolls in Madhya Pradesh. The two requested the CEC to get the matter investigated before the assembly elections in Madhya Pradesh, scheduled in November, 2018...