Economy

Take steps to reduce NPAs in Banking sector

Inadequate Progress

The Non-Performing Assets (NPA) crisis has continued to grow throughout, both in terms of absolute amount and as percentage of advances.  In the year 2016 it increased by 56% and reached Rs. 6.14 lakh crore.
Parliament enacted Insolvency and Bankruptcy Code, 2016 to ensure time time-bound settlement of insolvency and lowering NPAs. The BJP government has notified the ordinance to the Banking Regulations Act, enabling RBI and banks to initiate bankruptcy proceedings against chronic defaulters.

Facebook Comments