Banks likely to recover bad loans worth Rs 70,000 crore by March-end: Arun Jaitley
Reuters | Updated: Jan 3, 2019, 17:36 ISTHighlights
- Some of the big cases such as Bhushan Power and Steel Ltd and Essar Steel India Ltd are in advanced stages of resolution, Jaitley said
- Lenders have so far recovered Rs 80,000 crore from the resolution of 66 cases, he added
Finance minister Arun Jaitley (File photo)NEW DELHI: Finance minister Arun Jaitley said on Thursday commercial banks were likely to recover Rs 70,000 crore ($9.95 billion) of bad loans by the end of March, helped by resolution of 12 large cases.
Some of the big cases such as Bhushan Power and Steel Ltd and Essar Steel India Ltd are in advanced stages of resolution, and are likely to be resolved in this financial year, Jaitley said in a blog post on Facebook.
Lenders have so far recovered Rs 80,000 crore from the resolution of 66 cases, he added.
Some of the big cases such as Bhushan Power and Steel Ltd and Essar Steel India Ltd are in advanced stages of resolution, and are likely to be resolved in this financial year, Jaitley said in a blog post on Facebook.
Lenders have so far recovered Rs 80,000 crore from the resolution of 66 cases, he added.
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