Dynamite News PSBs gross NPAs down to Rs 7.9 lakh cr: FM
Finance Minister Nirmala Sitharaman on Friday said the profitability of public sector banks has improved and total gross non-performing assets have come down to Rs 7.9 lakh crore at end-March 2019 from Rs 8.65 lakh crore at end-December 2018.
New Delhi: Finance Minister Nirmala Sitharaman on Friday said the profitability of public sector banks has improved and total gross non-performing assets have come down to Rs 7.9 lakh crore at end-March 2019 from Rs 8.65 lakh crore at end-December 2018.
She also said liquidity support to NBFCs and housing finance companies has improved as the partial credit guarantee scheme has been executed. An infusion of Rs 3,300 crore has already been made and another Rs 30,000 crore is in the pipeline.
Also Read |
Govt slashes corporate tax to 25.17 pc for domestic companies
Finance Minister Nirmala Sitharaman: We shall continue with 2 banks which will have national presence - Bank of India with Rs 9.3 Lakh Crores of business size and Central Bank with Rs 4.68 Lakh Crores of business size. pic.twitter.com/J7lWuujMag
— ANI (@ANI) August 30, 2019
Addressing her second press conference to announce steps to boost the economy, the finance minister said the reforms initiated in the public sector banks (PSBs) have started showing results as 14 of them posted a profit in the first quarter of the current fiscal.
Also Read |
Sitharaman asks CPSEs to push capex and payments outstanding to MSMEs
The minister also said that to avoid Nirav Modi like frauds in the PSBs, the SWIFT messaging system has now been linked with the core banking system. (PTI)