Patel said an asset quality review for the NBFCs is ‘inevitable’ given their interconnectedness in financial system.
PSBs witnessed improvement during 2018-19 and the gross NPA ratio decreased from 11.5 per cent to 10.1 per cent.
Interest rate for 5-year Senior Citizens Savings Scheme will now fetch a lower rate of interest at 8.6 pc from 8.7 pc.
The systemic impact of HFCs' failures has significantly lessened as the state-run banks got better capitalised.
DHFL only been able to make a 40 per cent payment on unsecured commercial papers due on Tuesday.
The amount involved in such frauds in 2017-18 and 2018-19 stood at Rs 9,866 crore and Rs 6,735 crore
NPA in the banking system had peaked at 11.5 per cent in March 2018 and then declined to 9.3 per cent in March 2019.
Recovery of Rs 7,654 crore has been done from wilful defaulters' accounts during the last five financial years.
Banks with more than 50 billion rupees (USD 714 million) in assets must appoint a chief risk officer.