November 30, 2016 6:44 PM

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Gross NPAs of PSBs touch over 6 lakh crores in July-September 2016

Gross Non-Performing Assets (NPA) of public sector banks has touched around six lakh thirty thousand crore rupees at the end of September this year. Minister of State for Finance Santosh Kumar Gangwar today said this in a written reply in the Rajya Sabha. He said, the total number of NPA accounts are around 66 lakh 40 thousand. Mr Gangwar said, centre has taken sector specific measures where incidence of NPA is high. He said, the Insolvency and Bankruptcy code has been enacted and the Recovery of Debts due to Banks and Financial Institutions Act have been amended to improve resolution and recovery of bank loans. The minister said six new Debt Recovery Tribunals have been established for improving recovery.

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