Bad loans of state-run banks at Rs 1.43 lakh cr
- Winter session Day 1: Govt talks about misuse of word 'secularism', Sonia raises 'intolerance' debate
- Sheena murder: CBI seeks Interpol help, Peter Mukerjea's custody extended till Nov 30
- PPCC chief Bajwa and Jakhar made to resign as rejig in Punjab Congress imminent
- Constitution Day: The many reasons why the BJP decided to celebrate it
- India-Pakistan series to be played from December 15 in Sri Lanka: Rajiv Shukla
Bad loans of public sector banks stood at as of September, 2012, Parliament was informed today.
Non-performing assets were Rs 1.12 lakh crore as of March 31, 2012, Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.
"The gross non-performing assets (NPAs) of public sector banks (PSBs) was Rs 1,12,489 crore as at end March, 2012 and Rs 1,43,765 crore as at end September, 2012," he said.
"The gross NPAs of State Bank of India was 33 per cent and 31.9 per cent of the GNPAs of PSBs as at end of March, 2012 and September, 2012 respectively," he added.
The NPAs of the state-owned country's largest lender State Bank of India also remained substantially high.
"The gross NPAs (GNPAs) of State Bank of India was 33 per cent and 31.9 per cent of the GNPAs of PSBs as at end of March, 2012 and September, 2012, respectively," Meena said.
The gross NPAs of the nationalised banks were at Rs 35,460 crore in 2009-10, Rs 42,940 crore in 2010-11, Rs 66,790 crore in 2011-12 and Rs 87,560 crore as of September 2012, he said.
Meena said the Reserve Bank has issued instructions to banks to have a recovery policy to improve the health of financial sector, reduce NPAs and to improve asset quality of banks and prevent slippages.
Banks are required to monitor their NPAs and take steps to bring them down through recovery or other channels, the Minister said.
Meena said the RBI also monitors the NPA levels in banks and this is reviewed during annual financial inspections of banks and monitored on an ongoing basis through regulatory returns submitted by banks and periodical meetings with banks.
"The government has advised public sector banks to take a number of new initiatives to increase the pace of recovery and manage NPAs," he added.
- True patriotism requires you to be able to say I am ashamed of my country in certain respects
- Douglass North emphasised institutions when markets were the focus
- ‘Bovine Divine’ controversy lurched between the horrific and the comic
- PM Modi’s achievements abroad appear to cut little ice back home
- Post 13/11 sloganeering at Antalya and Kuala Lumpur won’t be enough
- Can Parliament be insulated from the vagaries of the political climate?