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Government sets up committee on NPAs

Japanese Vice Minister of Defence KimitoAfter setting up Bank Board Bureau headed by former CAG Vinod Rai to revitalise public sector banks, now the government has formed a committee headed by former chief vigilance commissioner (CVC) Pradeep Kumar to work with banks on settlement of non-performing assets. According to a report, former State Bank of India chairman Janki Ballabh will be a member of the committee. The government is looking to put in place an action plan to clean up the books and comfort them through an oversight mechanism. The total gross non performing assets of banks stood at Rs 5,94,929 crores as at end March 2016, a raise of about Rs 200,000 crore in just one quarter. The government ha enough reasons to worry as around 90% of this is on the books of public-sector banks.

1 Comment

1 Comment

  1. Nilesh Desai

    April 1, 2017at7:16 am

    the efforts of all concerns are towards large infra npa but npa in msme ,though small in finance terms ,creates large unemployment.

    as a consultant working towards revival of sick msme units for last 18 months,i have commercially viable of reputed law college and leading chamber of commerce are joining to give final touches the the concept

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