(New Delhi)NPAs of PSBs Stood @ ₹ 7.27 Lakh Crore
The government on Monday said the Non Performing Assets (NPAs) of Public Sector Banks (PSBs) stood at Rs 7.27 lakh crore as on September 30, 2019.
Union Minister of State for Finance Anurag Thakur also said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of Rs 1,13,374 crore in the first half of the current financial year.
Thakur said during Question Hour that as a result of transparent recognition of stressed assets as NPAs, gross NPAs of PSBs, as per RBI data on global operations, rose from Rs 2,79,016 crore as on March 31, 2015, to Rs 6,84,732 crore as on March 31, 2017 and Rs 8,95,601 crore as on March 31, 2018.
As a result of Government’s strategy of recognition, resolution, recapitalisation and reforms, have since declined by Rs 1,68,305 crore to Rs 7,27,296 crore as on September 30, 2019
The minister said systematic and comprehensive checking, including of legacy stock of NPAs of PSBs,for frauds under the framework has been taken note of by the Reserve Bank of India (RBI) in its Financial Stability Report of December 2019, where it has observed that this has helped unearth frauds perpetrated over a number of years.
This is reflected in the increased amount involved in frauds of Rs. 1 lakh and above, reported by Scheduled Commercial Banks and select financial institutions, from Rs 23,934 crore in the financial year (FY) 2016-17 to Rs 41,167 crore in FY2017-18, Rs 71,543 crore in FY2018-19, and Rs 1,13,374 crore in the first half of the current financial year
Tag: PSBs
NPAs of PSBs Declined to ₹ 7.27 Lakh Crore
Modi Govt to Infuse Rs 88K cr in 20 Public Banks
[New Delhi] Modi Govt to Infuse Rs 88K cr in 20 Public Banks
The unprecedented Rs 2.1 lakh crore bank recapitalisation plan announced in October last year was to be spread over two financial years — 2017-18 and 2018-19.
Government of India today announced Rs 88,139 crore capital infusion in 20 public sector banks (PSBs) during the current fiscal, As per Finance Minister Arun Jaitley
IDBI Bank getting the most — Rs 10,610 crore.
State Bank of India will get Rs 8,800 crore capital and
Bank of India, Rs 9,232 crore.
UCO Bank will get Rs 6,507 crore;
Punjab National Bank – Rs 5,473 crore;
Bank of Baroda – Rs 5,375 crore;
Central Bank of India – Rs 5,158 crore;
Canara Bank – Rs 4,865 crore;
Indian Overseas Bank – Rs 4,694 crore and
Union Bank of India – Rs 4,524 crore.
Oriental Bank of Commerce would get Rs 3,571 crore,
Dena Bank Rs 3,045 crore,
Bank of Maharashtra Rs 3,173 crore,
United Bank of India Rs 2,634 crore,
Corporation Bank Rs 2,187 crore,
Syndicate Bank Rs 2,839 crore,
Andhra Bank Rs 1,890 crore,
Allahabad Bank Rs 1,500 crore,
Punjab and Sind Bank Rs 785 crore.
The PSBs are faced with mounting non-performing assets (NPAs) or bad loans, putting the financial sector under stress, and need to be recapitalised.
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