Union Finance Minister Arun Jaitley at the launch of ‘Paytm Payments Bank’ in New Delhi on Tuesday. (Source: PTI) Union Finance Minister Arun Jaitley at the launch of ‘Paytm Payments Bank’ in New Delhi on Tuesday. (Source: PTI)Dismissing rumours of loan waiver for big corporates, Finance Minister Arun Jaitley on Tuesday said the government has been taking firm action against defaulters and is making efforts to make ‘mazboor’ banks ‘mazboot’ by recapitalising them. The reason for giving capital to banks is that these banks may become mazboot, ie, strong, rather than mazboor, ie, hard-pressed,” he said. To receive the capital, banks will have to carry out several reforms so that such situations do not recur, he added.

Source: Indian Express November 28, 2017 15:00 UTC