Non-performing assets in the banking sector a big challenge: S Viswanathan, SBI

Posted By: Religare
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Non-performing assets in the banking sector a big challenge: S Viswanathan, SBI
Admitting that non-performing assets (NPAs) in the banking sector is a big challenge, SBI Managing Director S Viswanathan said the NPAs would start looking up once the economic situation gets better, reported PTI.

"Though the NPA stress will continue, it would start looking up in six months after the economic scenario improves," the managing director (associates and subsidiaries) at SBI said at an event organised by XLRI.

"It will go up for sometime before it comes down," he said stating that NPAs would not cripple the prevailing banking system.

It is unfortunate to know that education loan contributed 20 per cent to total non-performing assets, he added.

Highlighting the growth of banking business since independence, he said the sector is currently valued at Rs 115 lakh crore and expected to more than double at Rs 288 lakh crore by 2020.

Read more about: state bank of india
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