Government today said, the rate of increase of Non Performing Assets (NPAs) has slowed down in the last quarter of the current financial year. Addressing the first meeting of the consultative committee of his Ministry, Finance Minister Arun Jaitley said, the core problem of NPAs is with very large corporates, predominantly in the steel, power, infrastructure and textile sectors. He said, the government is taking sectoral specific measures to deal with the problem of NPAs specifically in the resolution of large debts. <br/><br/>Mr Jaitley said, the Steel Sector is on its path of recovery while many decisions have been taken in the infrastructure, power and textile Sectors to resolve their problems. The Finance Minister further said, RBI has also made an Oversight Committee to look into process of the cases referred to it by the different banks. Seeing the response and its performance, Mr Jaitley said that the government is considering multiplication of such committees. On the issue of setting-up a bad bank, the Finance Minister said, several possible alternatives exist and the issue is being debated on public platforms.

Government today said, the rate of increase of Non Performing Assets (NPAs) has slowed down in the last quarter of the current financial year. Addressing the first meeting of the consultative committee of his Ministry, Finance Minister Arun Jaitley said, the core problem of NPAs is with very large corporates, predominantly in the steel, power, infrastructure and textile sectors. He said, the government is taking sectoral specific measures to deal with the problem of NPAs specifically in the resolution of large debts. <br/><br/>Mr Jaitley said, the Steel Sector is on its path of recovery while many decisions have been taken in the infrastructure, power and textile Sectors to resolve their problems. The Finance Minister further said, RBI has also made an Oversight Committee to look into process of the cases referred to it by the different banks. Seeing the response and its performance, Mr Jaitley said that the government is considering multiplication of such committees. On the issue of setting-up a bad bank, the Finance Minister said, several possible alternatives exist and the issue is being debated on public platforms.