New Delhi, Feb 1: The central government has provided Rs 10,000 crore for recapitalisation of banks owned by it, Fince Minister Arun Jaitley said on Wednesday.
Presenting the budget in Parliament, Jaitley said: “I have provided Rs 10,000 crore for recapitalisation of banks in 2017-18. Additiol allocation will be provided as may be required.” Jaitley said the government continues to focus on resolving the stressed loan assets of banks.
“The legal framework has been strengthened to facilitate resolution, through the ectment of the Insolvency and Bankruptcy Code and the amendments to the Sarfaesi and Debt Recovery Tribul Acts,” Jaitley said. (IANS)