Steel industry owes Rs 3,00,000 Crore to banks

Steel industry owes Rs 3,00,000 Crore to banks
02/08/2016 , by , in ALLIED

The steel industry has outstanding loans of around Rs three lakh crore in various banks, thus making the sector one of the largest contributors to non-performing assets (NPA) in the country. Steel Minister Birender Singh said in Lok Sabha on Monday that efforts are on by banks and Reserve Bank of India to restructure the loans given to the steel industry so that the loans could be recovered. Singh said the government was making efforts to revive the industry so that the steel companies repay the loans.

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