Arun Jaitley Says 70,000-Crores Bad Loan Recovery Likely By March-End | Read

Finance Minister Arun Jaitley said on Thursday that commercial banks were likely to recover Rs. 70,000 crore of bad loans by the end of March, helped by resolution of 12 large cases. Some of the big cases, such as Bhushan Power and Steel, and Essar Steel India are in advanced stages of resolution, the finance minister said, adding that they are likely to be resolved this financial year. He also said that the National Company Law Tribunal (NCLT) has so far resolved 66 cases, in which the banks have so far recovered Rs. 80,000 crore.