“Banking sector ko lekar kuch pramukh nirnay mantri parishad mein hua hai (There has been important decisions taken regarding the banking sector at the Cabinet meeting),” Jaitley said. NPAs have been rising in the banking sector despite the government taking a series of measures in recent months. Public sector banks’ NPAs surged by over Rs 1 lakh crore during the April-December period of 2016-17. PSU banks’ gross NPAs in the first nine months of the current fiscal rose to Rs 6.06 lakh crore by December 31, 2016, from Rs 5.02 lakh crore during 2015-16. For private sector banks, gross NPAs grew to Rs 70,321 crore by December 31, 2016, from Rs 48,380 crore as on March 31, 2016.

Source: Indian Express May 03, 2017 23:37 UTC