INSUBCONTINENT EXCLUSIVE:
The Parliamentary committee is headed by Congress leader M Veerappa Moily.
Senior officials of 11 public sector banks (PSBs) will appear before the Parliamentary Standing Committee on
Finance on Tuesday on the issue of the banks' massive non-performing assets (NPAs), or bad loans, and increasing number of fraud cases,
according to official sources here
The committee, headed by Congress leader M
Veerappa Moily, is preparing a report on the "Banking Sector in India - Issues, Challenges and the Way Forward, including Non-Performing
Assets/Stressed Assets in Banks/Financial Institutions".The PSBs due to make presentations before the Parliamentary panel and respond to
their queries on June 26 are Allahabad Bank, Bank of India, Central Bank of India, Dena Bank, IDBI Bank, Corporation Bank, UCO Bank, Indian
in the Indian banking system have touched the staggering level of Rs 9 lakh crore, of which the bad loans of state-run banks amount to over
Rs 7.5 lakh crore.In February, the banking system was rocked by the Rs 13,000 crore fraud reported by state-run Punjab National Bank (PNB)
story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
