How FM Jaitley is planning to revive the crippled banking sector

Said encouraging private investment and improving lending capacity of banks are the two challenges govt faces

Addressing the problem of debt-laden banks as a core “concern” for the economy, Finance Minister Arun Jaitley on Friday pledged to find resources to ease banks off stressed assets. 

Jaitley, on the sidelines of the 70th Annual General Meeting (AGM) of Indian Bank Association (IBA), said the two major challenges that the Indian government faces are — encouraging private investment and improving the lending capacity of banks.

The finance minister stressed that bad loans have crippled the ability of lenders to offer new credit and a push must be given to revive the sector.