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TMI BlogSteps to Recover PSBS’ NPASX X X X Extracts X X X X X X X X Extracts X X X X ..... Steps to Recover PSBS’ NPAS X X X X Extracts X X X X X X X X Extracts X X X X ..... and 31.9% of the GNPAs of PSBs as at end of March, 2012 and September, 2012 respectively. To improve the health of financial sector, to reduce the NPAs, to improve asset quality of banks and to prevent slippages, Reserve Bank of India (RBI) has issued instructions that each bank is required to have a loan recovery policy which sets down the manner of recovery of dues, targeted level of reduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (period-wise), norms for permitted sacrifice/waiver, factors to be taken into account before considering waivers, decision levels, reporting to higher authorities and monitoring of write-off/waiver cases. Banks are required to monitor their NPAs and take steps to bring them down through recovery/other channels. Reserve Bank of India also monitors the NPA levels in banks. This aspect is reviewed d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uring Annual Financial Inspections of banks and monitored on an ongoing basis through regulatory returns submitted by banks and periodical meetings with banks. The Government has advised Public Sector Banks to take a number of new initiatives to increase the pace of recovery and manage NPAs, which include appointment of Nodal officers for recovery, to conduct special drives for recovery of loss a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssets, to put in place early warning system, to replace system of post dated cheques with Electronic Clearance System (ECS).
This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Rajya Sabha today.
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