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PMO Reviews NPA Resolution Progress in Meeting
June 28, 2017
With Reserve Bank of India identifying 12 top defaulters recently, the Prime Minister Office held a meeting yesterday in which several senior officials from different ministries came together to review the progress in NPA resolution.
According to the sources, the meeting, that included Financial Services Secretary Anjuly Chib Duggal and Corporate Affairs Secretary Tapan Ray, was a standard stocking meeting with the focus on the resolution of bad loans which have increased considerably. Today, the banking industry is burdened by Non-Performing Assets above Rs. 8 lakh crores out of which Rs. 6 lakh crores belong to the Public-Sector Banks.
