Media reports on bad position of public banks are not fully correct: Arun Jaitley

New Delhi, Feb 12 (KNN) Reacting to Economic Affairs Secretary Shaktikala Das statement that Indian stock markets better off than many others Union Finance Minister Arun Jaitley  said in the past few days there has a been a major sell off in markets ,creating chain reaction.

“India was also affected,” he wrote on the micro-blogging site twitter.

The Minister however said that the major reason was tricked by the global factors.

On bad position of the public sector banks, FM said, “The media reports on bad position of public banks are not fully correct.”

“Bad loan are there but banks are equipped to deal with these issues. Government is committed to protect the banks and give them the capital requirements. RBI is also giving guidance,” he said.

Jaitley said that the problem must not be exaggerated.

“Inherent strength of Indian markets must be seen rather than focussing on globally triggered issues,” he added. (KNN Bureau)