New Delhi, Nov 29: The Indian Government is planning to set up a high level panel to effectively deal with the mounting bad loans.
According to a senior Finance Ministry official, this was discussed recently at the meeting of the finance minister with the heads of PSU banks.
“It’s too early to get into specifics… it will certainly have a more focused look on certain sectors,” he said.
The gross NPAs of PSBs rose to 6.03 per cent at the end of June 2015, as against 5.20 per cent in March 2015.
“NPA is a matter of concern and the government is vigilant in this regard. The government is looking into the problems faced by steel, aluminium and textile sectors,” the official said.
These are the sectors which have a high share of total NPAs of public sector banks.
She said, “NPAs are a result of many factors. There is not one silver bullet that is going to deal with them… It will require us to take a multi-dimensional approach.”
