AMN / NEW DELHI
Finance Minister Arun Jaitley today clarified that the government has not written off even one rupee of the corporates. Replying to supplementaries in the Lok Sabha, today Mr Jaitley said the writing off a loan is a commercial decision of banks as per their board approved policy formulated in conformity with regulatory guidelines of the RBI.
He said that information relating to quantum of farm loans written off, is not centrally maintained. Based on the RBI information, the Finance Minister said the reduction in non-performing asset (NPA) due to write off including compromise for agriculture and allied activities during 2016-17 in respect of commercial banks is the tune of 7,548 crore rupees.
The Finance Minister said the NPA figures of public sector banks have been improving over the last few years. Mr Jaitley informed the House that the NPAs of the public sector banks of the country were 6 lakh 41 thousand 57 crore rupees and there was no government department and Undertakings in the top 25 NPAs of the banks as on 31 March 2017.
Mr Jaitley said before 2014 and after 2008 the banks incurred also loss due to global economic slowdown. He said steps taken by the government to improve the banking system and will have a positive impact on the country’s economy.