Friday, February 23rd, 2024

The Finance Minister clarified the situation on the availability of Rs 2000 notes in ATMs, said – there are no instructions to the banks

Finance Minister Nirmala Sitharaman told the Lok Sabha on Monday that no instructions have been given to keep or not keep Rs 2,000 notes in ATMs. he/she said that depending on the consumer requirement, banks decide the amount and denomination of notes for ATMs. According to RBI’s annual report, the total value of notes in the denominations of Rs 500 and Rs 2,000 at the end of March 2017 was Rs 9.52 lakh crore, which is expected to increase to Rs 27.05 lakh crore by March 2022.

Total liabilities and debt of the central government Rs 155.80 lakh crore

In response to another question, Sitharaman said, the total liabilities and loans of the central government as on March 31, 2023 are Rs 155.80 lakh crore. This gross domestic product (GDP) is 57.3 percent. The estimated external debt is Rs 7.03 lakh crore and is 2.6 per cent of GDP. The share of external debt is about 4.5 per cent of the total debt and liabilities of the central government and less than three per cent of GDP. he/she said that external debt is availed by multilateral and bilateral agencies at concessional rates and hence is not a threat.

Gross NPA of public sector banks reduced

Minister of State for Finance Bhagwat Kishan Karad told the Lok Sabha that the gross NPAs of public sector banks have come down from 14.6 per cent in March 2018 to 5.53 per cent in December 2022 due to the steps taken by the government. The net profit of all public sector banks was Rs 66,543 crore in 2021-22 and increased to Rs 70,167 crore during the first nine months of the current financial year. The total market cap of these banks (excluding IDBI Bank) was Rs 4.52 lakh crore in March 2018, which increased to Rs 10.63 lakh crore in December 2022.

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