Govt fully committed to supporting banks, says FM Jaitley
Jaitley further said, "Banks should be empowered and protected so that they can reach settlements on bad loans."
Finance Minister Arun Jaitley has said that the government is fully committed ato supporting public sector banks due to NPA provisions.
After this meeting with the public sector banks he said, Operational profits of public sector banks significant and losses due to NPA provisioning; government fully committed to supporting them."
Jaitley further said, "Banks should be empowered and protected so that they can reach settlements on bad loans."
Discussed credit flow, expansion of banking activity and bad loans position with heads of PSU bank, he said.
Meanwhile, shares of public sector banks were trading higher during the day.
Find out latest stock prices of banks here.
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
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
01:35 PM IST