FinMin to set up panel on NPAs

New Delhi:  In pursuance to the directions of the Supreme Court, the Finance Ministry will soon set up a panel to look into the issue of mounting bad loans and come out with the steps to deal with the problem.  “The committee to look into non-performing assets issue will be announced soon in accordance with the suggestions of the Honourable Supreme Court,” a senior Finance Ministry official told PTI.  It will look into various issues related to NPAs and ways to rein it, the official added.  Besides, it will also point out if loan approval process and system is suffering from any gaps or lacuna.  Some names have been considered for the panel including Union Bank of India Chairman and MD Arun Tiwari, Indian Bank MD M K Jain and legal expert M R Umarji, the official said, adding it could be headed by senior official of the Finance Ministry.