Over 6,000 officers of PSBs held responsible for bad loans: Arun Jaitley
Depending upon the gravity of lapses, the minister said "minor penalty/ major penalty have been imposed against erring officials" and in all the cases, depending upon the amount involved, CBI and police complaints have been lodged.
The government Friday said action has been taken against more than 6,000 officers of nationalised banks last fiscal in cases of lapses that led to bad loans.
In written reply, Finance Minister Arun Jaitley said that minor and major penalties have been imposed against erring officials. These include, dismissal, compulsory retirement and demotion.
"As per the inputs received from nationalised banks, in FY 2017-18, 6,049 officers have been held responsible on account of staff delinquency in NPA accounts...," Jaitley said.
Depending upon the gravity of lapses, the minister said "minor penalty/ major penalty have been imposed against erring officials" and in all the cases, depending upon the amount involved, CBI and police complaints have been lodged.
The 19 nationalised banks, including PNB and Canara Bank, reported a net loss of Rs 21,388 crore in the first half of the fiscal. This compares with a combined loss Rs 6,861 crore in the similar period of 2017-18.
Meanwhile, Minister of State for Finance Shiv Pratap Shukla said that no loan account of state-owned banks with outstanding of over Rs 25 crore has been "declared as evergreen" since June 2014.
In another written reply to the lower House, Shukla said as a result of transparent recognition of bad loans, the non-performing asset (NPA) amount of all commercial banks rose from Rs 5.66 lakh crore at end-March 2016 to Rs 9.62 lakh crore at end of March 2018.
Since then the amount has declined to Rs 9.43 lakh crore.
He further said the public sector banks have reported a "record recovery" of Rs 60,713 crore in the first half of the current financial year.
This, he said, was double the amount recovered by them during corresponding period of the last financial year.
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
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
09:15 AM IST