Pranab to meet bank chiefs on June 12

K. R. Srivats
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Mr Pranab Mukherjee
Mr Pranab Mukherjee

The Finance Minister, Mr Pranab Mukherjee, will review with public sector banks the flow of credit to various sectors of the economy. He is slated to meet the chief executives of all the public sector banks in New Delhi on June 12. This meeting, the first of its kind this year, comes at a time when the non-performing assets of banks have gone up significantly, mainly due to the weak economic environment.

In 2011, Mr Mukherjee had meetings with the Chief Ministers of the western, southern and eastern zones to discuss banking-related issues.

He had used the occasion to urge State governments to expedite clearances for various projects for which banks had sanctioned loans.

Unlocking resources

Mr Mukherjee has asked debt recovery tribunals to suggest ways to unlock resources of banks that are stuck as non-performing assets.

Addressing the first conference of chairpersons of Debt Recovery Appellate Tribunals and the presiding officers of Debt Recovery Tribunals on Wednesday, he expressed concern over the large pendency of cases in the tribunals.

As many as 67,000 cases involving Rs 136-lakh crore are pending before tribunals at the end of March 2012.

(This article was published on June 6, 2012)
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