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Govt-Led Reforms Such As IBC Result In Recovery Of Bad Loans Worth Rs 5 5 Lakh Crore: Report
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Lok Sabha passes Insolvency and Bankruptcy Code (A) Bill, 2021
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Reforms help banks recover Rs 5.5 lakh crore of bad debt: Govt
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Reforms help banks recover Rs 5.5 lakh crore of bad debt: Govt
Sidhartha / TNN / Updated: Jul 26, 2021, 05:16 IST
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NEW DELHI: The steps taken by the government over the last few years from enacting Insolvency & Bankruptcy Code (IBC)and strengthening other laws to administrative measures have helped banks recover around Rs 5.5 lakh crore of bad debt, including close to Rs 1 lakh crore from accounts that had been technically written off, top officials said.
And, with indications that the build-up of non-performing assets (NPAs) is lower than anticipated, especially among large companies, the government believes that state-run lenders are well poised to meet the credit requirements, given that they are adequately capitalised.