‘PSBs recover ₹5.49 lakh crore in seven years’

The government has taken comprehensive steps to reduce NPAs and to effect recovery, enabling public sector banks to recover more than ₹5.49 lakh crore over the last seven fiscal years, the Lok Sabha was informed on Monday.

In a written reply, Minister of State for Finance Bhagwat Karad said that with regard to the details of the recovery rate of non-performing assets (NPAs), the RBI had informed that it had not formally defined ‘recovery rate’ in the context of NPAs in the banking industry. “Comprehensive steps have been taken by the Government to reduce NPAs and to effect recovery,” he said.

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