INSUBCONTINENT EXCLUSIVE:
Jaitley said on Tuesday that bad debts or non-performing assets (NPAs) in the banking system are on the decline as recoveries of unpaid
which calls for an auction of assets of loan defaulting entities, recoveries have picked up
growth has significantly moved upwards, he said."We are passing through a phase of good growth as far as the economy is concerned
Consumption has moved up, and therefore the banking activity is bound to pick up," he said.Financial Services Secretary Rajeev Kumar said
banks expect to recover Rs 1.8 lakh crore through IBC and other routes during the current fiscal.Credit growth and asset quality were
discussed in the review meeting on Tuesday, he said.The focus should now be on arresting fresh slippages, he said, adding that close to Rs
18,000 crore worth of non-core assets will be sold by PSU banks this financial year.
