The huge load of bad loans of public sector banks is not too much of a worryline for the government and a likely solution will be worked out soon, Union minister Santosh Kumar Gangwar said today.
“Non-performing assets (NPAs) are not a subject to worry about too much. I think we will find a solution to the problem soon,” the minister of state for finance said on the sidelines of an event here.
Asked about a timeframe to resolve the issue, all that the minister said was the government will let it out soon.
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Bad loans of public banks rose by over Rs 1 lakh crore to Rs 6.06 lakh crore during April-December of 2016-17, the bulk of which came from power, steel, road infrastructure and textiles sectors. The gross bad loans stood at Rs 5,02,068 crore at the end of 2015-16.