BANK NEWS
Banks have reached peak of NPAs Jaitley
New Delhi, May 16 : Finance Minister Arun Jaitley on Monday said the banks have reached the peak of non-performing assets (NPAs) and now the "tapering process" is likely.
Once the sectoral balance sheet of banks improves, this will start tapering down. The peaks of NPAs have been reached," Jaitley said in a media event at the Indian Women`s Press Corps (IWPC) here.
"The consequential impact of sectors like sugar, steel, power on the balance sheets of banks in coming quarters ... these could be positive and could add to the growth," he said.
Talking about the rising NPAs, Jaitley said at least transparency has been achieved in the balance sheets of the banks and their actual position is out.
Emphasising that India was growing despite the global slowdown, Jaitley said the ability of the banks to lend was critical for growth.
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