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LATEST NEWS UPDATES | Heads of 11-PSBs to appear before the Standing Committee on Finance on Tuesday

Heads of 11-PSBs to appear before the Standing Committee on Finance on Tuesday

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published Published on Jun 26, 2018   modified Modified on Jun 26, 2018
-PTI
 
New Delhi: Heads of 11-state owned banks will apprise a parliamentary committee about the problems of mounting bad loans and increasing fraud cases on Tuesday, sources said.

They will be appearing before the Standing Committee on Finance, headed by veteran Congress leader M Veerappa Moily, which is looking into ‘Banking Sector in India- Issues, Challenges and the Way Forward, including Non- Performing Assets/ Stressed Assets in Banks/Financial Institutions’.

Top officials of IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank, will make presentations before the panel and respond to queries on June 26, said sources.

Many concerns


The banking sector is grappling with rising non-performing assets (NPAs), which touched Rs 8.99 lakh crore or 10.11 per cent of total advances at December-end 2017. Of the total gross NPAs, the public sector banks accounted for Rs 7.77 lakh crore.

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The Hindu Business Line, 24 June, 2018, https://www.thehindubusinessline.com/money-and-banking/heads-of-11-psbs-to-appear-before-the-standing-committee-on-finance-on-tuesday/article24245257.ece?homepa


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