NEW DELHI: A Parliamentary Standing Committee on finance headed by senior Congress leader M Veerappa Moily is scheduled to meet Finance Ministry officials on April 17 to discuss rising NPAs, recapitalisation of PSBs and recent frauds in the banking sector.
“The Standing Committee is scheduled to meet Finance Ministry officials on April 17. Among several other things, the agenda will be the ongoing challenges in the banking sector, including non-performing asset (NPAs) and stressed assets and the steps taken by the government in this regards,” a Finance Ministry official said.
The committee had already met on March 9 after Punjab National bank reported the Rs 13,000 crore fraud on February 14 and had asked the ministry to submit its report within a month. However, NPA is another issue which is likely to be figured in the meeting.
The gross NPA ratio of public sector banks was at 13.5 per cent at the end of September, 2017. Also the new guidelines by RBI will increase the NPA burden on the public sector bank.
Tuesday Committee on Subordinate Legislation of Rajya Sabha, headed by headed by senior Congress leader T Subbarami Reddy met bankers and RBI governor Urjit Patel on the issue.