Gross NPAs of Banks At Rs 8.41 Lakh Crore in Dec

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    The gross non-performing assets (NPAs) of all the banks in the country amounted to Rs 8.4 lakh crores in December as per the government, reported PTI. This was led by industry loans followed by services and agriculture sectors.

    Gross NPAs of Banks At Rs 8.41 Lakh Crore in Dec

    The gross NPAs or bad loans of scheduled commercial banks as on December 31, 2017, due to loans to industry were at Rs 6.1 lakh crores, accounting for 20.41 % of the gross advances, followed by Rs 1.1 lakh crores (5.77%) dues from services sector; Rs 69,600 crore (6.53%) from agriculture and allied activities; Rs 14,986 crore from other non-food credit and Rs 36,630 crore (2.01%) from retail loans, Minister of State for Finance Shiv Pratap Shukla said in a written reply in Lok Sabha.

    The government has recently announced PSBs reforms agenda for responsive and responsible banking, which encapsulates a synergistic approach for ensuring prudential and clean lending, better customer service, enhanced credit availability, focus on micro, small and medium enterprises and better governance, he said.

    Also, Reserve Bank has issued a Prompt Corrective Action (PCA) framework to maintain sound financial health of banks. RBI has placed eleven PSBs: Dena Bank, Central Bank of India, Bank of Maharashtra, UCO Bank, IDBI Bank, Oriental Bank of Commerce, Indian Overseas Bank, Corporation Bank, Bank of India, Allahabad Bank and United Bank of India under the PCA framework.

    Source: PTI

    Read more about: npa
    Story first published: Saturday, March 10, 2018, 15:09 [IST]
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