Banking Sector / NBFC

Highlights

* Public Sector Banks recovered Rs 8 billion of NPAs from 2 lakh accounts in 2000-01

* Net NPAs as percentage of net advances were almost half at 7.4% in 1999-2000 compared with 14.5% in 1993-94

* 22 Debt Recovery Tribunals (DRTs) and 5 Appellate Tribunals established

Proposals

* Proposed legislation to facilitate foreclosure and enforcement of securities in case of defaults

* Banking Service Recruitment Boards abolished

* 7 more DRTs will be set up during 2001-02