FM warns defaulters: Clear dues or give control to others Finance Minister Arun Jaitley Thursday issued a stern warning to big loan defaulters responsible for a steep rise in the bad loans or non-performing assets of the public sector banks. He warned them either to clear their dues or allow others to take control of their companies. However the finance minister admitted that there is no short term solutions to the problem of bad loans. Jaitley said: “You can’t have a surgical solution to it.” Rising NPAs or non performing assets of public sector banks have seen sharp rise in recent years. The RBI has already recommended banks to initiate insolvency proceedings against 12 large defaulters. As per an official reply given in the Rajya Sabha in the Monsoon session, the total advances to corporate sector in 2017 were around 18 lakh crore rupees and nearly 15% (14.83%) or 3.44 lakh crore rupees were declared as non perorming assets (NPAs). As per the official reply i