PSBs more fo­cused on NPAs than lend­ing

India Business Journal - - NEWS ROUND-UP -

Public sec­tor banks (PSBs) in In­dia are more fo­cused on lim­it­ing losses from pre­vi­ous bad debts rather than seek­ing new lend­ing op­por­tu­ni­ties, notes the mid-term Eco­nomic Sur­vey. The Eco­nomic Sur­vey Vol­ume II 2016-17, tabled in Par­lia­ment, fur­ther adds: "The prob­lem is that public sec­tor banks are in dam­age-lim­i­ta­tion mode rather than seek­ing out new clients and op­por­tu­ni­ties. So, how can they re­gain their true func­tion of pro­vid­ing credit to sup­port eco­nomic growth?"

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