Our action against defaulters
helping banks cut NPAs: FM Sitharaman
minister Nirmala Sitharaman on Tuesday asserted that the government is tough on
defaulters, particularly fugitives, getting back their assets through legal
process and giving it to banks because of which their bad assets have come
have ensured that we pursue every case and get the money back to the banks,
otherwise NPAs (non performing assets) would not have come down," she said
at a press conference during her two-day visit to Jammu and Kashmir.
said this is an ongoing process. "We should not let go any defaulter and
particularly those who have fled the country and we will get their assets through
courts and give it to banks," the finance minister said.
a query over Vijay Mallya and Nirav Modi, Sitharaman said there are many more
names in the defaulters list. "There are many more names you can add if
you want," she told reporters.
week, prime minister Narendra Modi had said banks have managed to recover more
than Rs 5 trillion from defaulters. CARE Ratings in review of Q2FY22 results of
23 banks said the asset quality situation of the banking system does indicate a
gradual improvement in the NPA ratio in September.