State-Run Banks' Bad Debts On A Decline, Pick-Up In Loan Recovery: Arun Jaitley | Read
Finance Minister Arun Jaitley said on Tuesday that bad debts or non-performing assets (NPAs) in the banking system are on the decline as recoveries of unpaid loans pick up. Speaking to reporters after the annual review meet with top PSU bankers, he said last several years had been challenging for public sector banks as a large amount of lending was held up in NPAs. But after the Insolvency and Bankruptcy Code (IBC) came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up.
