Jaitley to meet RBI officials to discuss bank NPAs

Top Stories

»	EU, US trade deals to support exports over medium-term: RBI Governor
»	Ensuring energy security of 1.4 billion Indians remains govt's supreme priority: MEA
»	After Budget and India-US trade deal, all eyes on RBI’s repo rate decision
»	US tariffs on Indian goods among lowest after trade deal
»	Indian rupee trades over 1 pc higher after US trade deal

SME Times News Bureau | 10 Mar, 2017
Finance Minister Arun Jaitley will meet with senior Reserve Bank of India (RBI) officials in New Delhi on Friday to discuss the issue of banks' non-performing assets (NPAs) or bad loans, sources said.

The magnitude of the problem can be guaged from the NPA figures of state-run banks, which at the end of the current fiscal's second quarter that ended in September, rose to Rs 6.3 lakh crore, as compared to Rs 5.5 lakh crore at the end of the first quarter.

RBI Deputy Governor Viral Acharya has suggested forming of a Private Asset Management Company (PAMC) and National Asset Management Company (NAMC) to tackle the bad loans issue.

As per the plan, the banking sector could be asked to restructure about 50 large stressed assets in sectors like metals, construction, telecom and textiles, by December 31, 2017.