Finance Minister Arun Jaitley today reviewed the performance of public sectors banks in a meeting with the chiefs of the state-run banks. The meeting comes in the backdrop of rising bad loans in the banking sector. Finance Minister Arun Jaitley is addressed a press conference.
Here is what he said.
- Credit flows and bad loans in banking sector issue were discussed
- Power minister reviewed progress of Uday scheme
- Government fully committed to support the banking system
-We hope to empower banks more to tackle bad loans
-Banks should be empowered and protected so that they bring out commercially prudent settlements
-No discussion today on bank recapitalization
-PSU banks declared net loss last year due to high provisioning
-Operational profit of PSU banks in FY16 was Rs 1.4 lakh crore
-Government's policy supports consolidation in banking sector
-Net loss of PSU banks was at Rs 18,000 crore, it was due to provisions
Here is what he said.
- Credit flows and bad loans in banking sector issue were discussed
- Power minister reviewed progress of Uday scheme
- Government fully committed to support the banking system
-We hope to empower banks more to tackle bad loans
-Banks should be empowered and protected so that they bring out commercially prudent settlements
-No discussion today on bank recapitalization
-PSU banks declared net loss last year due to high provisioning
-Operational profit of PSU banks in FY16 was Rs 1.4 lakh crore
-Government's policy supports consolidation in banking sector
-Net loss of PSU banks was at Rs 18,000 crore, it was due to provisions
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