The Gross Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) for the quarter ended June 30, 2013 was Rs. 1,76,009 crore, according to the Reserve Bank of India (RBI) provisional data.
The Gross NPAs of PSBs were Rs. 1, 12,489 crore in March 2012 and Rs. 1, 55,890 crore in March, 2013, the Minister of State for Finance Namo Narain Meena informed Parliament on Tuesday.
"Although the Non-Performing Assets (NPAs) of the bank has shown a rising trend, the position is continuously and closely being monitored by the Bank and there is no cause for alarm," he said.
The stress on the asset quality is a reflection of the stress in the economy of the country, he added.
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