Union Finance Minister Nirmala Sitharaman on Monday said that banks have recovered about Rs 13,109 crore from asset sale of defaulters such as embattled diamantaire Nirav Modi, Mehul Choksi and erstwhile liquor baron Vijay Mallya.
Sitharaman, who was speaking in the Lok Sabha during the ongoing Winter Session, added that banks have also recovered Rs 5.49 lakh crore through the resolution of bad loans in the last seven years.
Elaborating on the cash balance with states, the finance minister also informed that states have substantial cash balances, only two states have negative cash balances.
Besides, the Lok Sabha earlier today cleared the second batch of Supplementary Demands for Grants authorising the government to spend an additional Rs 3.73 lakh crore during the current fiscal amid protest by the opposition over various issues.
The extra spending includes infusing over Rs 62,000 crore into the company that holds residual assets and liabilities of Air India, Rs 58,430 crore by way of additional fertiliser subsidy, Rs 53,123 crore towards payment of pending export incentives and Rs 22,039 crore to the rural development ministry for transfer to National Rural Employment Guarantee Fund.
