Gross NPAs of 40 listed banks rise 36.9% to Rs 2.22 lakh cr in September 2013

Posted By: Religare
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Gross NPAs of 40 listed banks rise 36.9% to Rs 2.22 lakh cr in September 2013
The gross non-performing assets (NPAs) of 40 listed banks increased 36.9 per cent to Rs 2.22 lakh crore in September 2013 from Rs 1.62 lakh crore a year earlier, Parliament was informed, said a PTI report.

Gross NPAs at United Bank of India rose 160 per cent to Rs 6,286 crore from Rs 2,418 crore in September 2012, Finance Minister P Chidambaram said in a written reply to the Rajya Sabha.

Indian Bank recorded a 110 per cent jump in gross NPAs to Rs 3,765 crore from Rs 1,789 crore, he said. Punjab & Sind Bank's gross NPAs grew 109 per cent to Rs 2,240 crore as against Rs 1,071 crore.

To improve the health of the financial sector, reduce NPAs, improve asset quality of banks and prevent slippages, the Reserve Bank of India has issued instructions which stipulate that each bank have a board-approved loan recovery policy, he said.

Dion Global Solutions Ltd.

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