Bad debt resolution, private investment are NDA priorities: Arun Jaitley

New Delhi: Finance minister Arun Jaitley said on Thursday that resolving the mounting bad debt that has crimped public sector banks’ ability to lend, and mobilizing private investment will be the priority for the National Democratic Alliance (NDA) government in the remaining two years of its term.

Jaitley said at a media briefing to mark three years of NDA rule that action will be taken in the next few days on resolving bad debts under an ordinance put in place in May to amend the Banking Regulation Act. The ordinance empowered the Reserve Bank of India (RBI) to intervene directly to clean up bad loans.

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