NPA crisis: Bankers brainstorm with financing minister Piyush Goyal on enhancing sector’s heath, credit flow

NPA crisis: Bankers brainstorm with finance minister Piyush Goyal on improving sector's heath, credit flow

Mumbai: Top bankers from north and south India on Friday discussed modalities to improve credit flow and setting up global standards in the banking system, finance minister Piyush Goyal said in Mumbai.

File image of Piyush Goyal. Image courtesy: PIB

File image of Piyush Goyal. Image courtesy: PIB

"There was an internal discussion among the bankers, particularly in respect to improving credit flow while mitigating risk associated with it," he said in a press conference after meeting the bankers.

Goyal said the banks may also consider having an oversight company with retired judges or vigilance officers to advise on the health of the banks.

A committee has been formed under Sunil Mehta, non-executive Chairman, Punjab National Bank to come up with recommendations, within two weeks, on suggestions given by bankers on Friday on whether to set up a asset reconstruction company or asset management company for faster resolution of stressed asset.

"The government stands committed to support 21 public sector banks," the minister added.

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    Source

    https://www.firstpost.com/business/npa-crisis-bankers-brainstorm-with-finance-minister-piyush-goyal-on-improving-sectors-heath-credit-flow-4502593.html

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