Gross NPAs in steel sector at Rs 1.15 lakh crore
Gross non-performing assets (NPAs) in the domestic steel sector, which accounts for 2 percent of India's GDP, are around Rs 1.15 lakh crore, Parliament was informed. Total loan exposure to India's over USD 100-billion steel industry, the world's third largest, is about Rs 3.13 lakh crore. "The total exposure of steel industry is about Rs 3.13 lakh crore out of which Gross NPA is about Rs 1.15 lakh crore. The RBI accorded a flexible refinancing repayment option, popularly known as 5:25 scheme for long-term infrastructure projects, including steel where total exposure of the bank is above Rs 500 crore, the Minister added. The central bank has also brought in Strategic Debt Restructuring (SDR) scheme to help debt ridden companies including steel companies.
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