Thursday, Oct 22, 2020 | Last Update : 01:17 AM IST

  Business   In Other News  20 Dec 2018  State banks recover USD 8.69 billion of bad loans in April-September

State banks recover USD 8.69 billion of bad loans in April-September

REUTERS
Published : Dec 20, 2018, 5:45 pm IST
Updated : Dec 20, 2018, 5:45 pm IST

Banks have raised 244.4 billion rupees from the market this fiscal year.

Govt would give funds to four to five banks under a prompt corrective action plan after considering their financial results.
 Govt would give funds to four to five banks under a prompt corrective action plan after considering their financial results.

New Delhi: Indian state-run banks recovered 607.3 billion rupees ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a “record” haul.

Financial Services Secretary Rajeev Kumar said the government would give funds to four to five banks under a prompt corrective action plan after considering their financial results.

 

He also said banks have raised 244.4 billion rupees from the market this fiscal year.

Tags: public sector banks, bad loans, funds, finance ministry
Location: India, Delhi, New Delhi