Lenders' hopes of recovering money from assets qualified as 'bad' recently will come true in the latter half of the next fiscal, once changes in redressal mechanisms are introduced, BofA-ML today said.
Terming the banks non-performing assets (NPAs), or bad loans, issue a serious concern to the economy, Union Minister of State for Finance Jayant Sinha has said the government was working to sort it out and reduce NPAs.
The committee, attached to the Ministry of Finance, held its second meeting on Wednesday which was attended by Finance Minister Arun Jaitley. Some members also suggested that a committee be constituted to finalise the recover
The Centre has created a framework for revival and rehabilitation of MSMEs, which account for nearly half of the non-performing assets (NPAs) of banks from the industry sector, Union Minister Kalraj Mishra said today.
(In) eight out of 10 cases, there is an element of wilful diversion of funds. So, the stress on assets is not only due to external factors, says Vikram Babbar, executive director, Fraud Investigations and Dispute Services, EY