PublicsectorbanksmakingconcertedeffortsinrecoveringNPAs,saysJaitley
A loan write-off does not constitute a loan waiver, Finance Minister Arun Jaitley said on Monday in a blog post, saying that the recovery of loans continued in the case of write-offs.
“An article has been reported in news media regarding write-off of loans by public sector banks (PSBs),” Mr. Jaitley wrote.
“Technical write-offs are resorted [to] by banks as per Reserve Bank of India (RBI) guidelines. However, this does not lead to any loan waiver. Recovery of loans continues rigorously by banks. In fact, the defaulting management of most Insolvent companies has been removed under the IBC.”
This story is from the October 02, 2018 edition of The Hindu.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 02, 2018 edition of The Hindu.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
‘Olympics Cancellation Likely If Vaccine Not Found In Time'
Further delays impossible, says Tokyo Games organising panel chief Mori
It's Wholesale Only At Koyambedu Market
Retail outlets to remain shut to bring down crowding.
Ministry Does U-Turn On Plasma Therapy
Treatment not proven: Health official
Trump's Bleach Statements Echo Claims By Pseudo-Scientists
‘Miracle cure’ quacks have long promoted industrial bleach to treat autism, malaria and many other medical conditions
U.S. May Seek Damages From China
President says many options on the table to hold Beijing accountable, draws an angry response
Koyambedu Market May Be Shifted Out
Decision likely at today's meeting of stakeholders; aim is to enforce physical distancing
Massive Spike Of 522 Cases In Maharashtra
On Monday, cumulative tally surged to 8,590 positive cases with 27 more deaths
The Script Of Disruption And A New Order
Across the globe, the geopolitical and geo-economic fallout of the COVID-19 pandemic could be serious
A Policy Road Map To Tackle Covid-19
The interest of each and the interests of all now coincide, not only within nations but for all humanity
ICMR Says No Payment Made For Chinese Test Kits Supplies
Alleged profiteering by distributors supplying the kits
