Rajeev Kumar, Secretary, Department of Financial Services said that the banking sector has recovered loans amounting to ₹2.98 lakh crores between 2015 and 2018. He said that around ₹98,000 crores were recovered during the two quarters of 2018-19.
Kumar was speaking at the Indian Banks’ Association event that was organized in New Delhi when he said that the banks have improved recovery every year. He said that the provisioning coverage ratio has also improved in the past few years.
Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY