Comments
Shares of public sector banks rose up to 4.5 per cent today after Finance Minister Arun Jaitley promised a solution to the growing NPA problem within next few days.
Bank of India shares rose 4.5 per cent, Bank of Baroda surged 4.16 per cent, Union Bank of India (3.18 per cent), PNB (3 per cent) and SBI (2.49 per cent) on the BSE.
Buying was also seen in private lenders, with ICICI Bank trading 3.03 per cent higher and Axis Bank up 0.83 per cent.
Promising a solution to the growing NPA problem in the next few days, Finance Minister Arun Jaitley had yesterday said the resolution being worked out with the RBI will put enough pressure on borrowers to settle the dues.
He blamed the bad loans of public sector banks on just 30-50 companies, saying accounts of these will have to be fixed to resolve the issue.
Gross NPAs of public sector banks have gone up to Rs 6.06 lakh crore in December 2016 from Rs 5.02 lakh crore at the end of March 2016.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.