State banks recover USD 8.69 billion of bad loans in April-September
20 Dec 2018 5:45 PM IST
Banks have raised 244.4 billion rupees from the market this fiscal year.
Earlier on December 26, 2018, nine bank unions or close to 1 million employees of various banks, including private lenders, had observed a one-day strike.
New Delhi: Indian state-run banks recovered 607.3 billion rupees ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a “record” haul.
Financial Services Secretary Rajeev Kumar said the government would give funds to four to five banks under a prompt corrective action plan after considering their financial results.
He also said banks have raised 244.4 billion rupees from the market this fiscal year.
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