With growing GDP, legislative reforms such as GST and IBC (Insolvency and Bankruptcy Code), India will hit double-digit growth rates soon," Chauhan told IANS.
PNB is expected to recover around Rs 1,800 crore from its NPAs recovery mechanism -- "Mission Gandhigiri" -- which will soon complete one year of operation.
To avert any future fraud, PNB said that it has strengthened internal audit controls by having separate "pre-sanction appraisal and post sanction monitoring" teams.
Faced with a multi-billion dollar fraud, along with the problem of NPAs, PNB has decided to form a separate "vertical to deal with its stressed assets".
We will first commence flight ops to new domestic destinations and increase frequencies. In all we are looking at starting flights to 4-5 new cities in this year."
The valuations in the stock markets are still too high and fundamentals need to catch up with them, according to a top official of NSE.
Crude oil prices at around $60 per barrel is the "ideal" level for Air India to sustain its new-found revenue growth, the airline's CMD Pradeep Singh Kharola said.
"Suggestions" on Air India's strategic divestment are welcome but the proposed stake sale in the debt-ridden national carrier will go on, Ashok Gajapati Raju has said.
Air India plans to "re-negotiate" its agreements with vendors and suppliers to save operational costs of up to Rs 500 crore with in the shortest possible time period.
The government plans to address the concerns of the national airline's employees and take some "key decisions" for the eventual stake sale in the airline.