NPA recovery of PSU banks improves on govt, central bank steps: Chidambaram
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Steps taken by the government and the Reserve Bank of India (RBI) have led to improvement in recovery of bad loans of public sector banks which rose to Rs 1,84,193 crore at the end of December 2012, finance minister P Chidambaram said on Friday.
"The recovery of NPA (non-performing assets) by public sector banks has increased from Rs 9,726 crore (March 2010), to Rs 13,940 crore (March 2011), to Rs 17,043 crore (March 2012) and Rs 10,815 crore (September 2012)," Chidambaram said in a written reply to the Lok Sabha. Gross NPA of PSU banks jumped to Rs 1,84,193 crore in December 2012 compared to Rs 1,37,102 crore in March 2012, an increase of Rs 47,091 crore in the nine months period. Gross NPA in corporate lending rose to Rs 98,884 crore in December 2012 as against Rs 68,221 crore in March 2012.