Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Charlie Kirk shot dead
  • Nepal protests
  • Russia-Poland tension
  • Israeli strikes in Qatar
  • Larry Ellison
  • Apple event
  • Sunjay Kapur inheritance row
fp-logo
Piyush Goyal credits Arun Jaitley for NPA clean-up; says banks poised for growth now
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit

Piyush Goyal credits Arun Jaitley for NPA clean-up; says banks poised for growth now

Press Trust of India • June 25, 2018, 09:09:03 IST
Whatsapp Facebook Twitter

Piyush Goyal said, crediting Jaitley for the ongoing NPA clean-up, that the banking system is now strengthened to once again start becoming a powerful engine of growth, financing the infrastructure and other credit needs of the economy

Advertisement
Subscribe Join Us
Choose
Firstpost on Google
Choose
Firstpost on Google
Piyush Goyal credits Arun Jaitley for NPA clean-up; says banks poised for growth now

Mumbai: Having recognised the huge non performing asset (NPA) pile by “biting the bullet”, the banking system is now poised for a better future and support the credit needs of the economy, interim finance minister Piyush Goyal said on Sunday. “Our banking system is now poised for very good times ahead,” he told reporters on the eve of Asian Infrastructure Investment Bank (AIIB)’s maiden annual summit being held here, when asked about the two meetings he had with bankers on dud loans resolution.

“Prime Minister (Narendra) Modi believes that it is important to bite the bullet, and finance minister Arun Jaitley has brought out the truth before the nation,” said Goyal, who is holding charge at North Block during Jaitley’s absence following a kidney transplant, said referring to the actions on non performing assets (NPAs) in the recent past.

It can be noted that the Reserve Bank of India’s (RBI) asset quality review has led to the recognition of a huge pile of NPAs hidden on bank books which is worth over 40 per cent of the system-wide bad loans. This was followed by steps on resolution of stressed assets, including the passage of the Insolvency and Bankruptcy Code (IBC). [caption id=“attachment_4449521” align=“alignleft” width=“380”] ![File image of Union minister Piyush Goyal. PIB](https://images.firstpost.com/wp-content/uploads/2018/04/PiyushGoyal380PIB.jpg) File image of Union minister Piyush Goyal. PIB[/caption] Crediting Jaitley for the ongoing NPA clean-up, he said the banking system is now strengthened to once again start becoming a powerful engine of growth, financing the infrastructure and other credit needs of the economy. It can be noted that in recent times, concerns have been raised over the ability of the banking system, 70 percent of which is dominated by state-run lenders, to support the credit needs of the economy as provisions for the bad assets drain capital buffers, leaving little for lending. “There is a lot of enthusiasm among bankers to lend to particularly small, medium entrepreneurs (SMEs) and other small businesses. They are very keen to participate in the growing infrastructure story in the country,” he said.

Tags
RBI Reserve Bank of India NewsTracker NPA NPAs SMEs Asian Infrastructure Investment Bank IBC Insolvency and Bankruptcy Code AIIB
  • Home
  • Business
  • Piyush Goyal credits Arun Jaitley for NPA clean-up; says banks poised for growth now
End of Article
Latest News
Find us on YouTube
Subscribe
  • Home
  • Business
  • Piyush Goyal credits Arun Jaitley for NPA clean-up; says banks poised for growth now
End of Article

Top Stories

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Enjoying the news?

Get the latest stories delivered straight to your inbox.

Subscribe
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV