Government is yet to communicate to banks regarding disbursement of funds to tackle the stressed asset situation, says TN Manoharan, Chairman of Canara Bank . Some recent reports had suggested that government will give funds to public sector lenders sooner than expected. Speaking to CNBC-TV18, Manoharan doesn’t see the need to raise funds in current fiscal. The bank had raised funds via tier-II bonds worth Rs 3,000 crore in April this year and about Rs 947 crore and Rs 2,400 crore in last fiscal. On the non-performing loans, he says that most of the NPAs have been recognized. “(We) don’t see surprises during the current fiscal,” he says. The bank had reported gross NPAs of 9.4 percent in Q4FY16. The aim is to keep gross NPLs under 10 percent, Manoharan says.
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