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# Business

PSU banks recover Rs 98,000 crore in first 3 quarters of FY19

The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70 per cent from 46 per cent after the asset quality review (AQR) last year.

IANS | New Delhi | February 28, 2019 1:15 pm

PSU banks recover Rs 98,000 crore in first 3 quarters of FY19

(Representational Image: iStock)

Banking Secretary Rajeev Kumar on Thursday said the PSU banks have recovered Rs 98,000 crore in the first three quarters of the current financial year.

The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70 per cent from 46 per cent after the asset quality review (AQR) last year, he said at an event on banks’ reforms journey.

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Kumar said the PSU banks have recovered Rs 2.87 lakh crore since 2015.

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