‘Record Recovery Of Rs 2.03 Lakh Crore In Last One-And-Half Year, 12 Out Of 18 PSBs Reports Profit’: FM Sitharaman Finance Minister Nirmala Sitharaman outside Parliament before presenting the Union Budget. 

On the back of host of measures taken by the government to improve financial health of the banks in the country, the bad loans in public sector banks' (PSBs) declined to ₹7.27 lakh crore at the end of September 2019, reports LiveMint.

The information was given by Finance Minister Nirmala Sitharaman on Monday (10 February) who reportedly said, "The government has instituted comprehensive reforms in PSBs to improve, governance, underwriting, monitoring and recovery, and has leveraged technology in all aspects of banking, resulting in reduction in their NPAs."

She also informed that bad loans of PSBs stood at ₹7.27 lakh crore at the end of September 2019, down from ₹8.96 lakh crore at the end of March 2018.

She further added, "Record recovery of ₹2.03 lakh crore over the one-and-half year period ending September 2019, 12 out of 18 PSBs reporting profit in the first half of the current financial year, and the highest provision coverage ratio in seven-and-half years."

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber