Jaitley likely to hold meeting with bankers on Nov 11-12
The meeting assumes significance in the light of the recent government announcement of fund infusion in the public sector banks over a period of two years.
The finance ministry is likely to hold a meeting with top management of public sector banks on November 11 and 12 to discuss various issues, including bad loans and recapitalisation, sources said.
The meeting assumes significance in the light of the recent government announcement of fund infusion in the public sector banks over a period of two years.
Last month, the government had announced a Rs 2.11 lakh crore bank recapitalisation plan, of which Rs 76,000 crore will come through budgetary support and bank stake sales, and Rs 1.35 lakh crore as bonds.
The meeting, according to sources, would discuss on increased lending to Ministry of Micro, Small & Medium Enterprises (MSME), recovery on non-performing assets (NPAs), credit growth, capacity building among others.
While announcing the unprecedented Rs 2.11 lakh crore capital infusion roadmap for the public sector banks last week, Finance Minister Arun Jaitley had said, this will be accompanied by series of banking reforms over next few months.
Banks are facing mounting NPAs to the tune of Rs 8 lakh crore. The bank NPAs are skirting the double digit mark at present and expected to grow further.
NPAs of public sector banks have increased from Rs 2.75 lakh crore in March 2015 to Rs 7.33 lakh crore as on June 2017.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
04:53 PM IST