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23
November 2016
Loan accounts with a cumulative exposure
of Rs 3.89 lakh crore held by as many as 2,071 industrialists, each of whom has
borrowed Rs 50 crore or more, have turned into non-performing assets (NPAs), or
bad loans, Parliament was informed on Tuesday. The Total Investment & Insurance Solutions
Minister of State for Finance Santosh
Kumar Gangwar told the Rajya Sabha in a written reply that as of June 30, 2016,
NPA accounts with a debt exceeding Rs 50 crore numbered 2,071 with a total
outstanding amount of Rs 3,88,919 crore.
The Total Investment & Insurance Solutions
"In terms of instructions of
Reserve Bank of India (RBI), every bank has to have its own recovery policy,
including the manner and procedure of write-offs," the minister said. The Total Investment & Insurance
Solutions
In respect of technical write-offs, RBI
has permitted write-offs at the head office level, while recovery efforts are
still continued at the branch level, he added.The Total Investment & Insurance Solutions
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