Finance Minister Arun Jaitley has asked state-run banks to clean-up their balance sheets of non-performing assets, saying the government was willing to take the necessary policy corrective measures to help them.
He said the government has already initiatPSU banksed several measures to bring down NPAs or bad loans of these banks. Gross NPAs of state-run banks rose 25.19 per cent year-on-year to Rs.3.14 lakh crore in September 2015.
Jaitley said the economy is gradually picking up and as demand picks up, credit offtake will also pick up. The minister also asked bankers to achieve growth in priority sector housing loans in order to provide a stimulus to overall growth.
On the issue of wilful defaulters, he said some defaulters that are a common thread running across several banks did crop for discussion.