Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
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.
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.
Kumar said the PSU banks have recovered Rs 2.87 lakh crore since 2015.
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