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Indian banks continue to stand healthy, strong and resilient: FM Sitharaman
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Nirmala Sitharaman said on Tuesday that amidst the global turmoil and sorry state of affairs as regards the banking systems, the Indian banks continue to stand healthy, strong, and resilient. The finance minister noted that banks have recovered Rs 33,801 crore from wilful defaulters by March 31, 2023, and efforts are underway to tackle wilful defaults and reclaim funds
«In our country, not only the non-performing assets (NPAs) are coming down, but also the profit margins are going up,» she said while replying to a question in the Rajya Sabha.
Sitharaman observed that even when last year, major bank collapses happened in the USA, Switzerland and Germany, India is showing NPAs coming down year after year.
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