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PSBs to expedite NPA resolution, focus on Credit Growth

Published on June 21, 2022
Current Context: In a recent meeting of the Finance Ministry banks were asked to sanction loans for productive sectors to accelerate the revival of the economy.
PSBs to expedite NPA resolution, focus on Credit Growth
  • 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
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