June 6, 2016 7:19 PM

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FM asks banks to deal firmly with rising NPAs; Says govt committed to empower banks to tackle bad loans

Finance Minister Arun Jaitley has asked the heads of the banks to deal upfrontly with rising Non Performing Assets (NPAs). Mr Jailtey said government is committed to empower banks more to tackle bad loans. Addressing media in New Delhi after chairing a quarterly performance review meeting with the chief executive officers of Public Sector Banks and Financial Institutions, Mr Jaitley said, banks should be empowered and protected so that they bring out commercially prudent settlement. During the meeting, Mr Jaitley looked into the overall performance of Public Sector Banks in the last financial year as well as flow of credit to agriculture, insurance and Micro Small enterprises sectors. He also reviewed the progress and performance of the new initiatives of the NDA government including Stand Up India, MUDRA, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Surkasha Bima Yojana and Atal Pension Yojana. Apart from these, issues relating to Housing loan, Medium and Small Enterprises credit, Financial inclusion and Literacy are also likely to be discussed in the review meeting.

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