- They have been asked to expedite non-performing assets (NPAs) resolution and focus on the recovery of bad loans.
- In recent times banks have shown more than doubled their net profit to Rs 66,539 crore in FY22. The collective profit of 12 state-owned banks together was Rs 31,820 crore in FY21.
- But it has also been observed that there were collective losses for five straight years during 2015-16 to 2019-20.
- To improve the financial health of PSBs, the government implemented a comprehensive 4Rs strategy recognition of NPAs transparently.
- The government has infused Rs 3,10,997 crore to recapitalize banks during the last five financial years from 2016-17 to 2020-21.
- Apart from that Kisan Credit Card and Emergency Credit Line Guarantee Scheme was extended by a year till March 2023.
- This time coverage, scope, and extent of benefits under ECLGS 3.0 for hospitality, travel, tourism, and civil aviation sectors were expanded.
Question:
Q.1 The Government has approved the extension of the Kisan Credit Card and Emergency Credit Line Guarantee Scheme to which of the following year?a. 2024
b. 2023
c. 2025
d. 2026
