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Closed down airlines cause Rs 6,769 cr loss to govt banks

There are rising concerns over mounting bad loans in the banking system

Press Trust of India  |  New Delhi 

Closed down airlines cause Rs 6,769 cr loss to govt banks

have suffered a loss of Rs 6,769 crore due to default by shuttered airlines, the said on Friday.

Without giving specific details, Minister of State for told the that make all efforts to recover the dues.



"have reported loss of Rs 6,769 crore as on December 31, 2016 on account of default by shut down or closed airlines," he said in a written reply.

There are rising concerns over mounting bad loans in the system. Among others, lenders have been finding it hard to recover dues in the case of defunct Airlines.

To a query on whether some senior officials were found in collusion with the closed airlines that have defaulted, Gangwar said in such instances action is taken as per the bank's disciplinary rules.

"... Action is initiated by as per their extant rules and commensurate punishment is awarded to delinquent employees based on the seriousness of wrongdoings as per Bank's disciplinary rules," the minister said.

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Closed down airlines cause Rs 6,769 cr loss to govt banks

There are rising concerns over mounting bad loans in the banking system

There are rising concerns over mounting bad loans in the banking system have suffered a loss of Rs 6,769 crore due to default by shuttered airlines, the said on Friday.

Without giving specific details, Minister of State for told the that make all efforts to recover the dues.

"have reported loss of Rs 6,769 crore as on December 31, 2016 on account of default by shut down or closed airlines," he said in a written reply.

There are rising concerns over mounting bad loans in the system. Among others, lenders have been finding it hard to recover dues in the case of defunct Airlines.

To a query on whether some senior officials were found in collusion with the closed airlines that have defaulted, Gangwar said in such instances action is taken as per the bank's disciplinary rules.

"... Action is initiated by as per their extant rules and commensurate punishment is awarded to delinquent employees based on the seriousness of wrongdoings as per Bank's disciplinary rules," the minister said.
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Business Standard
177 22

Closed down airlines cause Rs 6,769 cr loss to govt banks

There are rising concerns over mounting bad loans in the banking system

have suffered a loss of Rs 6,769 crore due to default by shuttered airlines, the said on Friday.

Without giving specific details, Minister of State for told the that make all efforts to recover the dues.

"have reported loss of Rs 6,769 crore as on December 31, 2016 on account of default by shut down or closed airlines," he said in a written reply.

There are rising concerns over mounting bad loans in the system. Among others, lenders have been finding it hard to recover dues in the case of defunct Airlines.

To a query on whether some senior officials were found in collusion with the closed airlines that have defaulted, Gangwar said in such instances action is taken as per the bank's disciplinary rules.

"... Action is initiated by as per their extant rules and commensurate punishment is awarded to delinquent employees based on the seriousness of wrongdoings as per Bank's disciplinary rules," the minister said.

image
Business Standard
177 22