Business
Shares of public sector banks rose by up to 4.5 per cent today after Finance Minister Arun Jaitley promised a solution to the growing NPA problem within next few days.
Updated : Mar 24, 2018, 03:36 AM IST
Shares of public sector banks
rose by up to 4.5 per cent today after Finance Minister Arun
Jaitley promised a solution to the growing NPA problem within
next few days.
The scrip of Bank of India rose by 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 BSE.
Buying was also seen in private lenders, with ICICI Bank
trading 3.03 per cent higher and AXIS Bank 0.83 per cent up.
Promising a solution to the growing NPA problem in the
next few days, Finance Minister Arun Jaitley yesterday said
the resolution being worked out with the RBI will put enough
pressure on borrowers to settle 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 solve the issue.
The gross NPAs of public sector banks have risen to Rs
6.06 lakh crore in December 2016, from Rs 5.02 lakh crore at
the end of March 2016.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)