ISSUE DATE: June 14, 2021
UPDATED: June 5, 2021 13:44 IST
Union Finance Minister Nirmala Sitharaman; Photo by Bandeep Singh
Q . How does it feel being the finance minister when all the major economic indices, including the GDP, are down? Don’t you feel depressed looking at the numbers?
I take it as a big challenge that calls for a lot of focus and attention to make sure that we are able to, every now and then, come up with steps that will help people. I don’t want to say numbers do not worry me, but I also have to think of the sufferings of people on the ground and the tragedy that has struck so many families. So, that is something lying heavy in my heart. I have to respond in such a way that it is addressed even if not completely resolved.
Read more about PNB to transfer bad loans worth Rs 8,000 crore to NARCL on Business Standard. In current quarter, the bank expects substantial recovery from DHFL, although there are some issues lingering in NCLAT, its MD said
In its submission to the Reserve Bank of India (RBI) set up Committee on Functioning of Assets Reconstruction Companies, the AIBEA has stated the above in addition to several other suggestions.The
No bank loan defaulter or those connected to a bank loan defaulting company should be a Director in an Asset Reconstruction Company (ARC) and the sharing of loan recovery structure should be changed, suggested All India Bank Employees .
Banks ready to transfer 37 NPAs worth ₹92,000 crore to NARCL
May 27, 2021
Banks lent to the aforementioned entities as part of a consortium - Getty Images×
Videocon, Reliance Naval, Essar Power Gujarat and Coastal Energy among others in the assets transfer list
Banks have so far zeroed-in on 37 stressed assets, with exposure aggregating to about ₹92,000 crore, that can be transferred to the National Asset Reconstruction Company Ltd (NARCL), which is being set up by lenders jointly.
The assets to be transferred to NARCL include those of Videocon Industries, Reliance Naval & Engineering, and Essar Power Gujarat and Coastal Energy, according to bankers. Banks had lent to these entities as part of a consortium.