Finance Ministry to constitute high-level panel to deal with NPAs
Updated: Nov 27, 2015 04:38:56pm
New Delhi, Nov 27 (KNN) The government is looking forward to constitute a high-level panel to effectively deal with the issue of bad loans, Department of Financial Services Secretary Anjuly Chib Duggal said today.
"That was discussed at the meeting of the finance minister with the heads of PSU banks. It's too early to get into specifics... it will certainly have a more focused look on certain sectors," Department of Financial Services Secretary Anjuly Chib Duggal said when asked if a panel on NPAs, which is likely to be headed by Minister of State for Finance Jayant Sinha, is in the offing.
The gross NPAs of PSBs rose to 6.03 per cent at the end of June 2015, as against 5.20 per cent in March 2015.
"NPA is a matter of concern and the government is vigilant in this regard. The government is looking into the problems faced by steel, aluminium and textile sectors," she said.
These are the sectors which have a high share of total NPAs of public sector banks.
Speaking about the financial inclusion, she said differentiated banking is very much on the cards.
"Geographical differentiation is going to happen. With smaller banks serving smaller areas, trust gets better and outreach is better and personal," she said.
She said there is a need for lowering of the cost of delivery to push financial inclusion. "We are looking at moving a little further towards lowering costs in delivery of products," she added. (KNN Bureau)
"That was discussed at the meeting of the finance minister with the heads of PSU banks. It's too early to get into specifics... it will certainly have a more focused look on certain sectors," Department of Financial Services Secretary Anjuly Chib Duggal said when asked if a panel on NPAs, which is likely to be headed by Minister of State for Finance Jayant Sinha, is in the offing.
The gross NPAs of PSBs rose to 6.03 per cent at the end of June 2015, as against 5.20 per cent in March 2015.
"NPA is a matter of concern and the government is vigilant in this regard. The government is looking into the problems faced by steel, aluminium and textile sectors," she said.
These are the sectors which have a high share of total NPAs of public sector banks.
Speaking about the financial inclusion, she said differentiated banking is very much on the cards.
"Geographical differentiation is going to happen. With smaller banks serving smaller areas, trust gets better and outreach is better and personal," she said.
She said there is a need for lowering of the cost of delivery to push financial inclusion. "We are looking at moving a little further towards lowering costs in delivery of products," she added. (KNN Bureau)
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