Centre will set up system to tackle bad loans: Piyush Goyal

Updated:8 years ago

Mumbai, Jun 08 (ANI): Union Finance Minister Piyush Goyal on Friday said that Centre is committed to supporting all state-run banks and will set up a dedicated mechanism to tackle bad loan issues. Addressing the gathering in Mumbai on the issue of Non-Performing Asset (NPA), he said that all bankers are eager to set up a mechanism for faster resolution of stressed accounts. "A presentation was made by SBI based on several years of experience and I am given to understand that all the bankers are now wishing to set up such a mechanism which will enable faster resolution of stressed accounts in a very transparent manner and speedy manner," said Goyal. "There is also a proposal that some of the banks may consider having oversight committees, comprising of retired judges, vigilance officials, regulators and bring in some external expertise to help faster decision making in the Indian banks,"added Goyal.

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Centre will set up system to tackle bad loans: Piyush Goyal

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