Government expects recoveries to exceed Rs 1.80 lakh crore in FY19
By PTI | Oct 28, 2018, 04.55 PM IST
Banks recovered Rs 36,551 crore in the first quarter of 2018-19. During 2017-18, banks recovered Rs 74,562 crore.
NEW DELHI: Enthused by the impact of new insolvency and bankruptcy law, the government expects bad loan recoveries to exceed Rs 1.80 lakh crore target for the current financial year, an official said.
Some big accounts are in the process of getting resolved while some more are lined up for resolution under the Insolvency and Bankruptcy Code ( IBC ), a senior Finance Ministry official told PTI.