The move by public sector banks to clean up their balance sheet by initiating insolvency proceedings against 12 major defaulters, with a debt of Rs 2 lakh crores or 25 percent of the total stressed assets of Rs 8 lakh crores of PSBs, has sent out a strong signal to the stock market which has lapped it up.
Enthused by PSBs move to recover their dues from the beginning of this week, the BSE Sensex soared to an all-time high of 31,450.32 on Thursday morning. Similarly, the NSE Nifty also moved up by 33.85 points, or 0.35 percent, to 9,667.45.
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Market welcomes PSBs debt recovery move
By IndianMandarins - 2017-06-22 08:35:20
The move by public sector banks to clean up their balance sheet by initiating insolvency proceedings against 12 major defaulters, with a debt of Rs 2 lakh crores or 25 percent of the total stressed assets of Rs 8 lakh crores of PSBs, has sent out a strong signal to the stock market which has lapped it up.
Enthused by PSBs move to recover their dues from the beginning of this week, the BSE Sensex soared to an all-time high of 31,450.32 on Thursday morning. Similarly, the NSE Nifty also moved up by 33.85 points, or 0.35 percent, to 9,667.45.
