PSU banks get back over 15,000 crore seized by ED

FM Sitharaman informed Rajya Sabha that the ED has restituted almost all of the Rs 15,186 crore seized to public sector banks. She emphasized the health and resilience of Indian banks despite global turmoil, citing reduced bad debts and increased profit margins. Legal actions are being taken against defaulters, resulting in the recovery of significant amounts. By March 31, 2023, recovery actions were taken in thousands of cases, with an aggregate amount of Rs 33,801 crore recovered. The net NPAs ratio of scheduled commercial banks decreased to 0.95% in 2022-23 from 5.9% in 2017-18.

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