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Idea of bank to tackle bad loans gaining momentum

Idea of bank to tackle bad loans gaining momentum

Thursday, February 23, 2017, 10:11 AM

Chief Economic Adviser Arvind Subramanian said, the idea of setting up state-owned asset reconstruction company or bad bank, to deal with increasing NPAs is gaining momentum and it needs to be created very soon. As on September 30, 2016, gross NPAs of public sector banks rose to Rs 6.3 lakh crore, as against Rs 5.5 lakh crore at the end of the June quarter.
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