Govt fully committed to supporting banks, says FM Jaitley
Finance Minister Arun Jaitley has said that the government is fully committed ato supporting public sector banks due to NPA provisions.
After this meeting with the public sector banks he said, Operational profits of public sector banks significant and losses due to NPA provisioning; government fully committed to supporting them."
Jaitley further said, "Banks should be empowered and protected so that they can reach settlements on bad loans."
Discussed credit flow, expansion of banking activity and bad loans position with heads of PSU bank, he said.
Meanwhile, shares of public sector banks were trading higher during the day.
Find out latest stock prices of banks here.