For the first time such a large loan resolution has been achieved through upfront payment received by Banks through sale of a company. This is a record step towards resolving the legacy of unprecedented amount of bad bank loans inherited by this Government. The NPA resolution process is being done through a fair and transparent Insolvency & Bankruptcy Code helping boost both the banking sector & the economy. This has been recognised by International Credit Rating Agencies as well. With recovery of NPA’s, banks will now be in a position to offer affordable and more credit to major sectors of the economy especially the MSME sector. This will boost employment & the economy even more.

Government under leadershiip of PM Narendra Modi ji has been systematically cleaning the financial & economic mess left behind by the Past Governments.

Cleaning up banks & resolving NPAs is part of Swaksh Bharat.