PSU banks recover Rs 98,000 cr in first 3 quarters of FY19

The PSU banks have recovered Rs 98,000 crore in the first three quarters of the current financial year and since 2015 the PSU banks have recovered Rs 2.87 lakh crore .

New Delhi:Banking Secretary Rajeev Kumar on Thursday said the PSU banks have recovered Rs 98,000 crore in the first three quarters of the current financial year.

The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70 per cent from 46 per cent after the asset quality review (AQR) last year, he said at an event on banks' reforms journey.Kumar said the PSU banks have recovered Rs 2.87 lakh crore since 2015.

(Inputs from IANS)