New Delhi: Finance Minister Nirmala Sitharaman is addressing a press conference in the national capital. Her press conference comes just a little ahead of the release of India's latest Gross Domestic Product (GDP) growth numbers.


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Here are the updates from FM's press conference



In place of fragmented lending capacity with 27 PSBs in 2017, now 12 PSBs post consolidation, tweeted Rajeev kumar





BoB + Vijaya Bank + Dena Bank merger have yielded wide ranging benefits for the banking and economic sector. It has seen robust CASA growth by 6.96 percent post the merger. Amalgamation of banks helped in strong retail loan growth.


Specialised agencies have been set up who are monitoring every loan which is over Rs 250 crores.


4 NBFCs have found their liquidity solutions through PSBs since last friday with more in pipeline. Indian economy is $2.6 trillion of which $1.9 trillion is credit


Government is focused on making economy a 5 trillion dollar economy


Past announcements made is focused on bank rates, product launches, improving sentiments


We need to lay strong foundation for economic sector and banking sector


The recent steps taken has helped in better loan recovery


Gross NPAs has come down. Loan recovery in FY19 stood at 1,21,076 crore while the NPAs were brought down to 7.90 lakh crore, from 8.86 lakh crore in March 2018


PSB reforms is now showing positive results as loan reciver has increased while Gross NPAs have gone down significantly