(a) whether the Government propose to give extensive powers to the banks to increase
recovery of the loans;
(b) if so, the details thereof;
(c) the time by which powers are likely to be provided; and
(d) the extent of which the recovery of loans by banks is likely to increase as a
result thereof ?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL) :
(a) to (d) The power of recovery of loans which have become overdue are powers available
with the banks and are not required to be given by the Government to the banks. However,
in order to accelerate the process of recovery in relation to non performing assets, action
has been initiated by RBi to put in place a scheme of a non-discriminatory and non-
discretionary nature for one time settlement of NPAs upto a limit of Rs. 5 crores. It is
expected with the scheme coming into force the process of recovery will gain significantly.