Cancelling 62 coal blocks to push bank NPAs up by Rs 1 lakh cr

The finanace ministry has told the Union cabinet that the current round of cancelling coal block allotments will cause non-performing loans of banks to jump by about Rs 1,00,000 crore. The figure was flagged at Monday’s cabinet meeting while deciding on the fate of 62 coal blocks about which the Supreme Court has asked for a status report. The CCEA was undecided on the next course of action due to the huge financial implications.

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