New Delhi : Top officials of both public and private banks will on Monday brief a parliamentary panel on the issue of mounting non-performing assets (NPAs) and banking frauds.
The Parliamentary Standing Committee on Finance headed by Veerappa Moily has called the Indian Banks’ Association (IBA) officials to appear before it on Monday. The panel will be briefed on the issue of rising NPAs and other matters related to banks.
Members of the panel said there will also be discussion on the recent frauds in the banks.
The meeting is being called after RBI governor Urjit Patel had said the apex bank did not have adequate powers to deal with public sector banks.
The panel has also called Patel to brief on the same issue later this month.
The committee was earlier briefed by Financial Services Secretary Rajiv Kumar about issues related to the banking sector.
Former Prime Minister Manmohan Singh, who is also a member of the committee, is likely to attend the meeting. Gross NPAs of state-owned banks had crossed Rs 7.77 lakh crore at the end of December 2017, according to official data.
