INDIA
NO MORE DILLY-DALLYING ON NPAs OF BANKING SECTOR
TIME HAS COME TO TREAD THE PATH OF SANITY
2017-10-18 09:48
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Finance Minister Arun Jaitley during his Washington sojourn to attend the Fund-Bank annual jamboree maintained in his interactive session with business leaders that addressing the problem of non-performing assets (NPAs) or what is in plain parlance the unrecoverable debts the public sector banks (PSBs) had been saddled with for far too long remains “a very high priority”. Jaitley said this has two aspects. One is to recover what is recoverable. For this the government has created new laws, amended existing laws and have created a new machinery, which will probably take care of it, he said, obviously alluding to the Insolvency and Bankruptcy Code (IBC) with its far-reaching beneficial implications to the stakeholders.