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PSBs recover Rs 60,730 crore of bad loans in April-September

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

twitter-logoReuters | December 20, 2018 | Updated 20:32 IST
PSBs recover Rs 60,730 crore of bad loans in April-September

Indian state-run banks recovered Rs 60,730 crore ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a "record" haul.

Also read: Govt to infuse Rs 83,000 crore in public sector banks in next few months: Arun Jaitley

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 Rs 24,440 crore from the market this fiscal year.

Also read: Bank recapitalisation: PNB, IDBI Bank, SBI received maximum funds in two years

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