Tag: Public sector banks

Public Sector Banks reported Rs 95,700 crore worth of frauds in April- September

NEW DELHI: Government owned banks reported frauds of over Rs 95,700 crore in the first six months of the current fiscal, the Parliament was informed on Tuesday. “According to Reserve Bank of India (RBI), frauds as per year of reporting, as reported by Public Sector Banks (PSBs), during the period from April 1, 2019 to […]

Public sector banks recover Rs 1.2 lakh crore from bad loans in 2018-19

NEW DELHI: Public sector banks (PSBs) have recovered close to Rs 1.2 lakh crore from stressed assets during the financial ended March, primarily helped by resolution under the Insolvency and Bankruptcy Code (IBC), an official said. During the first half of the previous fiscal, banks recovered Rs 60,713 crore from bad loans. “Due to non-resolution […]

Arun Jaitley defends loan write-offs; says they don’t lead to waiver, recovery still pursued

NEW DELHI: India’s Finance Minister Arun Jaitley on Monday defended loan write-offs by public sector banks, saying they do not lead to loan waivers and the exercise helps lenders clean up their balance sheets and achieve taxation efficiency. He said public sector banks have recovered Rs 36,551 crore of bad loans or NPAs during April-June […]

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