Finance Minister Arun Jaitley said non performing assets of public sector banks would come down gradually over the next two-three quarters. Asked about what steps were being taken to reduce NPAs, Jaitley, who was here to brief media about achievements of the NDA government in the last one year, said he is working on it. "When we came to power, the ratio of NPAs of public sector banks was 6 percent ". Ideally, it should be 2 to 2.5 percent.
Banks are still struggling to come out of this situation. Now, in the quarter ended March 31, it came down to 5.2 percent , which was 5.84 percent at the beginning of quarter. "So we are not claiming that situation has completely reversed. We believe that the situation will gradually improve after two-three subsequent quarters. We are also bringing professionals into the banking system and appointing them as directors," he said.
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