 Early Times Report
Jammu, Oct 5: All India Bank Officers' Association urged the government to expedite steps to recover bad loans instead of merger of banks.
As per press release, General Secretary S Nagarajan said Public Sector Banks in India right from the date of nationalization from 1969 upto August 2015 handling a total business mix of Rs.1,56,25,90,000 crores - Deposits Rs.89,59,70,000 and Advances Rs.66,66,20,000 crores.
The investments are Rs.26,83,80,000 crores.
The Indian Banking system is reeling under serious pressure of non-recovery of loans from the influential and bog borrowers. The money locked up in the bad loans categories are declared, by RBI RS. 3 lacs crores, Restructured Corporate loan Rs.6 lacs crores, Coal allocation related loan Rs.5 lacs crores and infrastructural loan Rs. 7 lac crores - totalling to Rs.21 lacs crores. It works out to 32% of total advances. |
