Finmin asks PSU banks to act swiftly to deal with NPAs
Concerned over NPAs crossing Rs 7 lakh crore, the finance ministry has asked public sector banks (PSBs) to take swift and firm action to deal with the bad loan problem, a banker said.
One of the focus areas of the meeting was effective monitoring to ensure better recoveries from the stressed assets, a senior public sector banker said.
Banks were also advised to look at cases where settlement can be done as part of lowering the burden.
Besides, the finance ministry also asked banks to look at a differentiated approach so as to create niche for them, another banker said. The differentiated approach would also help them strengthen their financials.
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