As usual worried over a further rise in bad loans against large companies, finance minister P Chidambaram recently exhorted public sector banks (PSBs) to effectively deal with non-performing assets (NPAs). According to him, the NPAs are high in the large corporate sector as well as in the SSI and MSE sector.
He said the efforts have yielded some results as PSBs recovered Rs.18, 933 crore of bad loans during the nine months through December 2013. Bad loans of PSBs rose 28.5% to Rs.1.83 lakh crore in March 2013 over the preceding September.
What is the remedy and in what manner one can assure the depositors that their money is safe with the Public Sector Banks (PSBs)? The minister is on his way out. This concern of his at this juncture is not going help any one.
[ TOI, Chennai, 6 March, 2014]
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