"Six new Debt Recovery Tribunals have been established for improving recovery," he said.
Moreover, the Reserve Bank of India (RBI) has introduced a number of relevant tools such as Corporate Debt Restructuring, the formation of the Joint Lenders Forum, the Strategic Debt Restructuring scheme and Sustainable Structuring of Stressed Assets, he added.
In a separate reply, Gangwar said that out of Rs 2.80 lakh crore loans to the iron and steel sector at end-June, Rs 1.24 lakh crore has gone bad, which works out to 44.54%.
Gross NPAs of the PSBs have surged from 5.43% of the total advances (Rs 2.67 lakh crore) in 2014-15, to 9.32% (Rs 4.76 lakh crore) in 2015-16.
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