(ET)
Speaking at the 5th SBI Banking & Economics conclave, Interim Finance Minister Piyush Goyal said that the current government has inherited lots of stressed assets from the past. Banking system has not kept pace with the changing times, said Goyal. He spoke on a host of issues, including revival path for PSU banks, tackling NPAs and the state of the economy.
Banking in olden days had a lot of promoter credibility, stated Goyal. He admitted that the government implemented core banking reforms but left it half done. Banking in the last 30 years have not necessarily not moved in a positive direction, said Piyush Goyal. Assuring governmental efforts, he said that the government is ready to clean up the NPA mess of the previous regime.
