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More than 6,000 PSB officials held responsible for poor loans in fiscal year 18: Jaitley

PTI/Agencies, New Delhi
29/12/2018   0 Comments

The government said on Friday that action against more than 6,000 officers of nationalized banks was done in the last financial year in case of shortage of loans. In a written reply, Finance Minister Arun Jaitley said that a minor and big penalty has been imposed against the officials for being guilty. This includes dismissal, compulsory retirement and demotion. On the basis of the gravity of the flaws, the minister said that "a fine has been imposed on a fine / penalty on conviction of the officials" and in all cases, CBI and police complaints have been registered on the basis of the amount involved. 19 nationalized banks, including PNB and Canara Bank, recorded a net loss of Rs 21,388 crore in the first half of the financial year. It compares the combined losses of Rs 6,861 crore in the same period of 2017-18.

Meanwhile, Minister of State for Finance Shiv Pratap Shukla said that any loan account of state-owned banks having more than 25 crore rupees has not been declared as "evergreen" since June 2014. In another written reply in the lower house, Shukla said that as a result of transparent recognition of bad loans, the non-executed assets (NPA) of all commercial banks increased from Rs 5.66 lakh crore to Rs 9.62 lakh crore at the end of March 2016 . At the end of March 2018. Since then the amount has decreased to Rs 9.43 lakh crore. He said that public sector banks have registered "Recovery Recovery" of Rs. 60, 713 crores in the first half of the current financial year. He said, the amount recovered by him during the same period of last financial year was double.

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