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Arun Jaitley reviews NPA scenario with top bankers

Meeting also featured the government's financial inclusion schemes

Press Trust of India  |  New Delhi 

Arun Jaitley
FM Arun Jaitley chairing the Meeting of the CMDs/CEOs of Public Sector Banks in order to review their performance in New Delhi. Photo: Twitter

Minister on Monday took stock of the finances of as also the resolution of bad loans or Non-performing asset (NPAs), with heads of the lenders.

Besides NPA resolution and bank finances, the meeting also featured the government's financial inclusion schemes.

Reserve Bank of India (RBI), Jaitley said, is in an advanced state of preparing a list of bad loans where resolution is required under the insolvency and bankruptcy rule. Also, the government is actively working on consolidation of state-owned

made a "stable operating profit" of Rs 1.5 lakh crore in 2016-17 and had a net profit at Rs 574 crore after making due provisions.

The minister observed that there are challenges to credit growth and speedy resolution for all pending NPA cases is the need of the hour.

"The is at a fairly advanced stage of preparing a list of those debtors where a resolution is required through the IBC (Insolvency and Bankruptcy Code) process and you will shortly be hearing about it," he told reporters after the meeting.

On the farm loan waiver announced by the Maharashtra government, he made it clear that states which want to go in for waiver will have to generate funds from their own resources.

First Published: Mon, June 12 2017. 17:35 IST