Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data
Non-performing assets of Bank of Baroda soared more than six-fold to Rs 73,140 crore while those of Indian Bank surged four-times to Rs 32,561.26 crore in six years, according to a Right to Information reply
Kota (Rajasthan): Non-performing assets of Bank of Baroda soared more than six-fold to Rs 73,140 crore while those of Indian Bank surged four-times to Rs 32,561.26 crore in six years, according to a Right to Information reply.
In a late evening statement, Indian Bank said the figure mentioned is inaccurate as results for March 2020 are yet to be audited.
The NPA of Bank of Baroda (BoB) rose from Rs 11,876 crore at March-end 2014 to Rs 73,140 crore at December-end 2019, the RTI reply showed.
Representative image. Reuters
The number of NPA accounts rose from 2,08,035 as on 31 March, 2014, to 6,17,306 as of December 2019.
The NPAs of Indian Bank surged from Rs 8,068.05 crore as on 31 March, 2014, to Rs 32,561.26 crore as on 31 March, 2020.
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The NPA accounts rose to 5,64,816 as on 31 March, 2020, from 2,48,921 as on 31 March, 2014, according to reply to Right to Information (RTI) queries on number of NPA accounts and the total amount filed by Kota-based activist Sujeet Swami.
In the statement, Indian Bank said it has been recording significant improvement in arresting slippages and recovering NPAs.
"However, gross NPA as on 31 December, 2019 was Rs 13,862 crore and net NPA Rs 6,488 crore. The bank has been recording significant improvement in arresting slippages and recovering NPAs," the statement said.
The RTI data also showed the state-run lenders earned huge amount from SMS alert service fees, minimum balance charges, locker charges, debit-credit cards service charges, outward, inward, ledger follow charges, among others.
According to the reply, Bank of Baroda collected Rs 107.7 crore through SMS alert fee during 1 April, 2018 to 29 February, 2020. Indian Bank collected around Rs 21 crore through SMS service fee during the same period.
Swami said, "My motive to file RTI was to unearth NPA amounts of two national banks between 2014 to 2020." He said he has sought same information from State Bank of India and Punjab National Bank but they are yet to provide the data.
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