New Delhi : The government says cancellation of 2G licences by the Supreme Court last month did not have any material impact on public sector banks. Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha today that the cancelled licences represent certain circle or areas only. The Supreme Court cancelled One hundred twenty two 2G spectrum licences granted by former telecom minister A.Raja on the ground that they were issued in a totally arbitrary and unconstitutional manner.

Mr. Meena said that government is closely monitoring the financial impact of the order of the Supreme Court on the banking sector in general and Public sector banks, PSB in particular. PSBs have sanctioned loans aggregating 18,571.24 crore rupees to nine companies affected by 2G verdict.