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Business News/ Politics / Policy/ PSBs recover $8.69 billion of bad loans in April-September

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PSBs recover $8.69 billion of bad loans in April-September

1 min read 20 Dec 2018, 05:53 PM IST Join us

Reuters

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

New Delhi: Indian state-run banks recovered ₹ 607.3 billion ($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.

Also Read: Govt to infuse ₹ 83,000 crore in PSBs in next few months, says Arun Jaitley

He also said banks have raised ₹ 244.4 billion from the market this fiscal year.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed)

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