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Large corporates to blame for NPA problem: FM Arun Jaitley

Jaitley was speaking on the occasion of inaugurating the Bandhan Bank in Kolkata.

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Finance Minister Arun Jaitley
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Finance Minister Arun Jaitley on Sunday inaugurated the Bandhan Bank in Kolkata. With this, 500 branches and 250 ATMs already set up by the bank will start operations. 

While speaking at the occassion, Jaitley said that Bandhan Bank will focus on MSMEs.
 
Citing the non-performing assets problem that has ruled the roost last quarter with most banks reporting poor results on account of bad loans,Jaitley said that large corporates were to blame for the NPA problem. "Large corporates are responsible for NPA problem," he said. 
 
Jaitley also stressed on the development of eastern states, including West Bengal. He said that there was a need for more economic activity in the eastern states of the country, and that political differences will not come in the way of development of West Bengal. 
 
Previously a Micro Finance Institution, Bandhan Bank is now a fully operative bank. The company's MFI business, as per the Reserve Bank of India's directive, will merge with the banking business. The company had received a nod from RBI to set up a bank in April last year.
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