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FM promises more autonomy to PSU banks

FM promises more autonomy to PSU banks Finance minister Arun Jaitley on Saturday termed the level of bad assets in the system as “unacceptable” and promised more autonomy for state-run banks to run business with a “commercial mindset”.

“There are unacceptable levels of NPAs (non-performing assets) in some cases and the banks have to be given a sufficient amount of leeway … to deal with commercial issues with a commercial mindset,” Jaitley told reporters on the sidelines of a two-day bankers’ retreat here.

– PTI