<div align="justify"> As the total stressed assets of public sector banks zoomed to Rs 7.40 lakh crore in 2016-17 from Rs 6.99 lakh crore in the previous year, Finance Minister Arun Jaitley on Monday said the Reserve Bank of India was at an advanced stage of preparing a list of NPAs where resolution is required under insolvency and bankruptcy rules.<br /><br />“The RBI is at a fairly advanced stage of preparing a list of those debtors where a resolution is required through the Insolvency and Bankruptcy Code process and you will shortly be hearing about it,” Jaitley told reporters after meeting chiefs of PSU banks.<br /><br />Officials attending the meeting told DH, gross mnon-performing assets (NPAs) of public sector banks have reached Rs 5.74 crore in 2016-2017 from Rs 4.78 lakh crore in the previous year. <br /><br />They said net NPAs (un-provided for loans) have zoomed to Rs 3.21 lakh crore in 2017 from Rs 2.86 lakh crore in 2016.<br /><br />The sources said out of Rs 7.40 lakh of stressed assets, steel, infrastructure, agriculture and textiles contributed the most.<br /><br />While the stressed assets in steel stood at largest 26.1%, It was 11.8% for infrastructure, 9.7% for agriculture and 6.6% for textiles.<br /><br />The government has promulgated an ordinance last month authorising RBI to issue dierctions to any banking company to initiate insolvency resolution process in respect of default.<br /><br />Further, the RBI may issue directions to the banking companies and specify one or more authorities or committees to advise banking companies on resolution of stressed assets.<br /><br />Jaitley also said the government was actively working on consolidating state-run banks.<br /><br />Public sector banks made an operating profit of Rs 1.5 lakh crore in 2016-17 and had a net profit at Rs 574 crore after making due provisions.<br /></div>
<div align="justify"> As the total stressed assets of public sector banks zoomed to Rs 7.40 lakh crore in 2016-17 from Rs 6.99 lakh crore in the previous year, Finance Minister Arun Jaitley on Monday said the Reserve Bank of India was at an advanced stage of preparing a list of NPAs where resolution is required under insolvency and bankruptcy rules.<br /><br />“The RBI is at a fairly advanced stage of preparing a list of those debtors where a resolution is required through the Insolvency and Bankruptcy Code process and you will shortly be hearing about it,” Jaitley told reporters after meeting chiefs of PSU banks.<br /><br />Officials attending the meeting told DH, gross mnon-performing assets (NPAs) of public sector banks have reached Rs 5.74 crore in 2016-2017 from Rs 4.78 lakh crore in the previous year. <br /><br />They said net NPAs (un-provided for loans) have zoomed to Rs 3.21 lakh crore in 2017 from Rs 2.86 lakh crore in 2016.<br /><br />The sources said out of Rs 7.40 lakh of stressed assets, steel, infrastructure, agriculture and textiles contributed the most.<br /><br />While the stressed assets in steel stood at largest 26.1%, It was 11.8% for infrastructure, 9.7% for agriculture and 6.6% for textiles.<br /><br />The government has promulgated an ordinance last month authorising RBI to issue dierctions to any banking company to initiate insolvency resolution process in respect of default.<br /><br />Further, the RBI may issue directions to the banking companies and specify one or more authorities or committees to advise banking companies on resolution of stressed assets.<br /><br />Jaitley also said the government was actively working on consolidating state-run banks.<br /><br />Public sector banks made an operating profit of Rs 1.5 lakh crore in 2016-17 and had a net profit at Rs 574 crore after making due provisions.<br /></div>
