New Delhi: Public sector banks (PSBs) have given loans ₹4,12,227.1 crore for State-aided Corporations and Public Sector Undertakings during 2022-23. ₹4,93,379.2 crore last year, Finance Minister Nirmala Sitharaman informed Parliament in writing on Monday.
New Delhi: Public sector banks (PSBs) have given loans ₹4,12,227.1 crore for State-aided Corporations and Public Sector Undertakings during 2022-23. ₹4,93,379.2 crore last year, Finance Minister Nirmala Sitharaman informed Parliament in writing on Monday.
Responding to questions from Member of Parliament Velusamy P, Seetharaman told the Lok Sabha that Canara Bank had given loans to government-backed institutions during 2022-23. ₹1,87,813 crore in the recently concluded financial year, Punjab National Bank (Back ₹70,142.5 crore), State Bank of India ( ₹66,523.2 crore), Bank of India ( ₹25,147 crore), Bank of Baroda ( ₹15,706.8 crore), Union Bank of India ( ₹12,584.8 crore), Bank of Maharashtra ( ₹10,822.7 crore), Indian Bank ( ₹9,021 crore), Indian Overseas Bank ( ₹7,490 crore), Central Bank of India ( ₹3,949 crore), UCO Bank ( ₹2,939.4 crore), Punjab and Sind Bank ( ₹87.7 crore).
Responding to questions from Member of Parliament Velusamy P, Sitharaman told the Lok Sabha that Canara Bank had given loans to government-backed institutions during 2022-23. ₹1,87,813 crore in the recently concluded financial year, Punjab National Bank (Back ₹70,142.5 crore), State Bank of India ( ₹66,523.2 crore), Bank of India ( ₹25,147 crore), Bank of Baroda ( ₹15,706.8 crore), Union Bank of India ( ₹12,584.8 crore), Bank of Maharashtra ( ₹10,822.7 crore), Indian Bank ( ₹9,021 crore), Indian Overseas Bank ( ₹7,490 crore), Central Bank of India ( ₹3,949 crore), UCO Bank ( ₹2,939.4 crore), Punjab and Sind Bank ( ₹87.7 crore).
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Meanwhile, the Finance Minister told the Lok Sabha that PSBs need to take a focused approach to meet priority sector lending targets to facilitate service delivery and customer protection, comply with regulatory norms, adopt robust risk management practices, increase rural, agricultural and sector lending.
In a meeting held on July 6 between top finance ministry officials, including the finance minister, and top PSB bank executives, it was decided that steps would be taken to upgrade technology of RRBs to make the sponsor banks of regional rural banks (RRBs) more efficient, Sitharaman said in a written reply.
The performance under the PM Swanidhi scheme, which was launched for the covid-affected street vendors to restart their businesses, was noted, in which 50.57 lakh loans were disbursed. ₹6,482 crore for 38.5 lakh street vendors as on 20.7.2023,” she said.
Financial performance of PSBs was also noted that all key financial parameters of credit deployment, profitability, asset quality, capital adequacy etc. have improved significantly and PSBs have recorded record gross profit. ₹1,04,649 crore in FY 2022-23,” she added.
Meanwhile, National Asset Reconstruction Company Limited (NARCL) has taken over three credit institutions — Jaypee Infratech Limited, SSA International Limited and Helios Photovoltaic Limited — with total debt as of July 17, Sitharaman informed Parliament. ₹21,349 crores.
“NARCL further informed that these assets were accrued only in the fourth quarter of the financial year (FY) 2022-23 and no recovery has taken place in these accounts till 17.7.2023,” they said.
“Furthermore, in the case of one account, namely SPML Infra Ltd., letter of sanction for taking up debt ₹Lenders have disbursed Rs 1,994.90 crore and the government has also given initial approval for guarantee,” she added.
Sitharaman added that the government and the Reserve Bank of India (RBI) have taken comprehensive measures to recover the bad loans and due to this the scheduled commercial banks have recovered the entire amount. ₹7.16 lakh crore in the last five financial years (provisional data for FY 2022-23).