ENA Sectors 2016-09-17 06:05:00 <p><strong>New Delhi, Sep 17 (KNN) </strong>The steel industry, one of the top contributors to the banks non-performing assets, is slowly turning around and companies are beginning to pay interest dues to banks, said Finance Minister Arun Jaitley.</p> <p>Provisioning with regard to NPAs has been increasing, Jaitley told reporters following a quarterly review of public sector banks.</p> <p>The major contributors continue to be the steel and infrastructure sectors. With regard to the steel companies, balance sheets have started turning and they have started paying interest.</p> <p>He however said that unless they pay the entire interest due, they cannot be reclassified.</p> <p>In the steel sector, the government introduced a minimum import price to protect domestic firms from a flood of cheap imports.</p> <p>In other sectors, like infrastructure construction, the government has tried to ensure at least partial payment to contractors even in the case of disputes.</p> <p>In addition to this, the Reserve Bank of India has provided banks with a number of tools to convert debt in stressed firms into equity, which can allow them to bring in new promoters. <strong>(KNN Bureau)</strong></p> 15398 http://knnindia.co.in/news/newsdetails/sectors/steel-sector-shows-signs-of-improving-jaitley 2016-09-17 06:05:00 knnindia.co.in