To Recover NPAs, Property Worth Rs 2.3 L Crore Have Been Seized
Junior Finance Minister Anurag Thakur said in a reply to a question in the Lok Sabha that these properties have been seized through Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, Debts Recovery Tribunals, and National Company Law Tribunal among others.
He further added that there are other 64,400 properties related to the NPA account which have not been taken over due to a variety of factors such as the nature of the loan, the nature of the security, the judicial process, etc.
The Public Sector Unit (PSU) banks have also collected Rs 3.35 lakh crore over the last four and a half fiscal years, including a record recovery of Rs 1.27 lakh crore during 2018-19 fiscal. In the last fiscal, approximately Rs 70,000 crore of loan recovery resulted. For detail reading, Click HERE
