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Jaitely calls PSBs to discuss NPA, stake sale issues

By Religare
|

In order to discuss the stake sale plans and the problem of rising bad loans, Finance Minister Arun Jaitely has announced a meeting with PSU bankers this week, said the media report.

"Banks are coming to meet me. Some of the banks are meeting me with regard to some immediate issues" this week, Arun Jaitely PTI in an interview.On rising NPAs of PSBs that has surged to Rs 2,60,531 crore as on December, 2014, he said it is an era of concern.

 

The top 30 defaulters are sitting on bad loans of Rs 95,122 crore, which is more than one-third of the entire non-performing assets of public sector banks. In terms of percentage, it amounts to 36.50 per cent, according to RBI data.

The government, he said, has already allowed banks to lower government stake to 52 per cent, which would enable them to raise capital from markets.

State Bank of India (SBI) and a few other public sector lenders are expected to raise funds of over Rs 16,000 crore from the market to meet their capital requirement.

The government has allowed SBI to raise Rs 15,000 crore and Oriental Bank of Commerce to mobilise Rs 1,000 crore from the market.

Story first published: Tuesday, May 19, 2015, 23:00 [IST]
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