Home >Industry >Banking >Jet Airways not classified as NPA yet, says PNB chairman

New Delhi: The chairman of Punjab National Bank, Sunil Mehta, said that the state-owned lender has not classified Jet Airways as a non-performing asset yet. He said the bank's exposure to Jet Airways is less than 900 crore.

On Tuesday, in its fourth quarter results, the bank announced fresh slippages to the tune of 6,710 crore and had written off loans worth 2,981 crore.

Mehta said the lender might receive write back of 4,000 crore in forthcoming quarters from NCLT cases.

Mehta said the bank has made provisions for IL&FS and Jet Airways as per regulatory norms and expects " a positive outcome" from talks with the beleaguered airline.

The chairman said PNB has been providing liquidity to good quality NBFCs and will continue to support the sector.

While speaking about the recent news reports that PNB could take control of two-three small state-run banks, he said the bank is yet to hear about the merger plans from government.

Mehta said FY20 bad loan recovery is expected to be more than 20,000 crore.

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