associate sponsors


Indian Banks' Association to brief parliamentary panel on NPAs, bank frauds tomorrow

New Delhi: Top officials of both public and private banks will on Monday brief a parliamentary panel on the issue of mounting Non-Performing Assets (NPAs) and banking frauds.

The Parliamentary Standing Committee on Finance headed by Verappa Moily has called the Indian Banks' Association officials to appear before it.

The association has top officials of all the major banks in the country as its members.

As per a Lok Sabha bulletin, the panel will be briefed on the issue of rising NPAs and other matters related to banks.

File image of Veerappa Moily. AFP

File image of Veerappa Moily. AFP

Members of the panel said there will also be discussion on the recent frauds in the banks.

The meeting is being called after the RBI governor Urjit Patel had said the Central Bank did not have adequate powers to deal with public sector banks.

The panel has also called Patel to brief on the same issue later this month.

The committee was earlier briefed by Financial Services Secretary Rajiv Kumar about issues related to the banking sector.

Earlier, bankers appearing before a different parliamentary panel had said the 180-day resolution plan for NPAs under the Insolvency and Bankruptcy Code (IBC) was not an adequate window. They had also suggested the emphasis should be on restructuring the stressed assets and that referring cases for resolution under the IBC should be the last option.

Former prime minister Manmohan Singh, who is also a member of the committee, is likely to attend the meeting.

Gross NPAs of state-owned banks had crossed Rs 7.77 lakh crore at the end of December 2017, according to official data.

Updated Date: Jun 03, 2018 21:18 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See