Mumbai: The finance ministry has asked banks to draw up a campaign for a one-time clean up strategy for clearing over 1 lakh bad loan recovery cases pending in debt recovery tribe- nails. The ministry has asked banks to use an alternate dispute resolution platform like Lok Adalat to bring down the number of cases, reports Mayur Shetty. According to bank- in sources, there are over 2 lakh cases pending with debt recovery tribunals of which over 1.5 lakh are original applications for over R 12 lakh crore exposure.
Of these, the 12 public sec- tor banks have over 1 lakh pending cases where the original exposure is around Rest 7.4 crore. SBI has the highest exposure of R 2.7 lakh crore followed by Pun- jab National Bank (R 1.2 lakh crore) and Canara Bank (R 77,000 crore).