FM for sympathetic approach to genuine bank borrowers
Updated: Feb 10, 2014 02:40:14pm
New Delhi, Feb 10 (KNN) Finance Minister P Chidambaram said today banks must be stern with wilful loan defaulters but should be sympathetic to those who are genuinely caught in business downturn.
Addressing the Indian Overseas Bank function here, the Finance Minister said banks must “identify wilful defaulters, take stern steps to recover loans from wilful defaulters even while helping others who are genuinely caught in business downturn to recover so that they can pay the loans in course of time.”
He reiterated that wilful defaulters cannot be shown leniency.
Non-performing assets (NPAs) have increased 28.5 per cent to Rs 2.36 lakh crore in September 2013 from Rs 1.83 crore in March 2013.
Further, total NPAs have increased to Rs 1.37 lakh crore in March 2012 from Rs 94,121 crore in March 2011. NPAs in September 2013 have more than doubled since March 2011. (KNN/ES)
Addressing the Indian Overseas Bank function here, the Finance Minister said banks must “identify wilful defaulters, take stern steps to recover loans from wilful defaulters even while helping others who are genuinely caught in business downturn to recover so that they can pay the loans in course of time.”
He reiterated that wilful defaulters cannot be shown leniency.
Non-performing assets (NPAs) have increased 28.5 per cent to Rs 2.36 lakh crore in September 2013 from Rs 1.83 crore in March 2013.
Further, total NPAs have increased to Rs 1.37 lakh crore in March 2012 from Rs 94,121 crore in March 2011. NPAs in September 2013 have more than doubled since March 2011. (KNN/ES)
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