The Union Finance Minister P Chidambaram has said that top 30 loan defaulters of public sector banks (PSBs) account for more than one-third of total gross non-performing assets (NPAs) of State-run lenders. The Minister told this to the Rajya Sabha on December 10.
Tag: loan defaulters
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Govt banks recover only Rs 1,461 cr loans in Q1
In the last June-quarter, government-owned banks recovered only Rs 1,416 crore from loan defaulters while adding more than twice that amount by way of non-performing assets during the same period. Such recoveries have mostly come from smaller borrowers, even as the Union Finance Ministry is focused on the top 30 non-performing accounts in public sector banks.