PSBs gross NPAs down to Rs 7.9 lakh cr: Nirmala Sitharaman
PTI, Aug 30, 2019, 4:58 PM IST
New Delhi: Finance Minister Nirmala Sitharaman on Friday said the profitability of public sector banks has improved and total gross non-performing assets have come down to Rs 7.9 lakh crore at end-March 2019 from Rs 8.65 lakh crore at end-December 2018.
She also said liquidity support to NBFCs and housing finance companies has improved as the partial credit guarantee scheme has been executed. An infusion of Rs 3,300 crore has already been made and another Rs 30,000 crore is in the pipeline.
Addressing her second press conference to announce steps to boost the economy, the finance minister said the reforms initiated in the public sector banks (PSBs) have started showing results as 14 of them posted a profit in the first quarter of the current fiscal.
The minister also said that to avoid Nirav Modi like frauds in the PSBs, the SWIFT messaging system has now been linked with the core banking system.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Markets surrender early gains to trade lower
US Fed interest rate decision key event to watch out for this week: Analysts
DGCA sticks to June 1 deadline for revised flight duty norms; says aim is to alleviate pilot fatigue
Govt approves 17% wage hike for 1.10 lakh employees of LIC
Air India lays off over 180 non-flying staff