Recovery of loans top priority for banks

Recovery is on top of the agenda of Public Sector Banks (PSBs), Vinod Rai, Chairman, Banks Board Bureau has reportedly said. The consolidation process among PSBs can happen over a period of time. This is done so that the lending process can restart. The government had constituted the seven-member Bureau to recommend selection of heads of public sector banks and financial institutions and help banks develop strategies and firm up capital-raising plans. Banks are currently engaged in the resolution of stressed assets; and the Bureau is encouraging them to resolve these issues soon. Also, discussions are taking place in government circles to resolve the stressed assets issue.