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Mounting overdues of banks cause for worry

Calcutta, March 8 (PTI): Union minister of state for finance Anandrao V. Adsul has expressed concern over mounting overdues of public-sector banks and called upon them to use the Securitisation Act for recovery of their non-performing assets (NPAs). Adsul, who reviewed the performance of banks operating in West Bengal at a meeting, said the need for economic price of agriculture produce for the farmer was the burning issue which required to be addressed immediately.

The discussion also took place in the areas of credit deposit ratio, priority sector advances, schematic lending and the minister obtained the views of the banks on potentiality and constraints in deployment of credit by the financial institutions in the state.

The review meeting was attended, among others, by the CMDs of United Bank of India, Allahabad Bank and Uco Bank along with regional director of RBI, chief general managers of Nabard, Sidbi and SBI.

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