Government asks PSBs to fast-track bad loan recovery

Government asks PSBs to fast-track bad loan recovery With trillions of crore rupees locked up in cases under the Debt Recovery Tribunals (DRTS) and National Company Law Tribunals (NCLTs), the government has asked chiefs of Public Sector Banks (PSBs) to monitor the top twenty defaulter loan accounts personally for faster recovery. The move is expected to boost the banks’ bottom lines, as the bad loans have already been fully provisioned. After the gross non-performing assets (GNPA) of the PSBs rose to a high 14.5% as of March 2016, the government took a slew of measures such as strengthening the banking regulatory framework, amending the recovery laws, enacting comprehensive insolvency and bankruptcy legislation, and establishing a public sector asset reconstruction company. [Read more](/dHJpc3RyYW1iYWxkd2luODVAZ21haWwuY29t/aHR0cHMlM0ElMkYlMkZ3d3cuZmluYW5jaWFsZXhwcmVzcy5jb20lMkZidXNpbmVzcyUyRmJhbmtpbmctZmluYW5jZS1nb3Zlcm5tZW50LWFza3MtcHNicy1mYXN0LXRyYWNrLWJhZC1sb2FuLXJlY292ZXJ5LTM1NjcxNjclMkY=)  In order to unsubscribe from this mailing list, please click, please Click [here](/dHJpc3RyYW1iYWxkd2luODVAZ21haWwuY29t)