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TMI BlogSteps to Recover NPAsX X X X Extracts X X X X X X X X Extracts X X X X ..... Steps to Recover NPAs - News and Press Release Dated:- 23-8-2012 - News - Press Information Bureau Government of India Ministry of Finance 23-August-2012 16:58 IST Although the Gross non-Performing Assets of the Public Sector Banks (PSBs) as on March 2012 amounts to Rs. 112489 crore, all PSBs have reported profits for the financial year 2011-12. Banks are required to monitor NP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... As and take steps to bring them down through recovery/other channels. RBI also monitors the NPA levels in banks. This aspect is reviewed during Annual Financial Inspections of banks and monitored on an ongoing basis through regulatory returns submitted by banks and periodical meetings with banks. The channels of recovery available to banks include recourse to Securitization and Reconstruction of F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inancial Assets and Enforcement of Security Interest Act, 2002, Debt Recovery Tribunals, Lok Adalats etc. The Government has advised PSBs 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 drive for recovery of loss assets, to put in place early warning systems, to replace system of pos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t dated cheques with Electronic Clearance System (ECS) and to proactively pursue the loan issues with State Government. 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. * * * DSM/RS/bs - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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