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Closed down airlines cause Rs 6,769 crore loss to government banks

Closed down airlines cause Rs 6,769 crore loss to government banks

Friday, March 17, 2017, 8:56 PM

Public sector banks have suffered a loss of Rs 6,769 crore as on December 31, 2016 on account of default by shut down/ closed airlines, the government said today. There are rising concerns over mounting bad loans in the banking system. Among others, lenders have been finding it hard to recover dues in the case of defunct Kingfisher Airlines.
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