Public sector banks reduce Rs 64,106-cr NPAs via recoveries in fiscal 2018, reveals RTI query
Reduction in bad loans seems to be insignificant given the fact that gross NPAs of state-run banks at the end of FY18 stood at Rs 8,95,601 crore
Indore (MP): The public sector banks (PSBs) had reduced their non-performing assets (NPAs) by Rs 64,106 crore in the last financial year through actual recoveries, revealed an RTI query.
However, the reduction seems to be insignificant given the fact that gross NPAs of state-run banks at the end of FY18 stood at Rs 8,95,601 crore.
As per the Reserve Bank of India (RBI) data received on 24 August in response to the RTI query filed by activist Chandrashekhar Gaud, the NPAs reduced by Rs 53,250 crore and Rs 40,903 crore, respectively, in FY17 and FY16 due to actual recoveries from defaulters.
The query also revealed that the gross NPA of PSBs was Rs 6,84,732 crore at the end of FY17, and Rs 5,39,968 crore at the end of FY16.
There are 21 public sector banks in the country. However, the apex bank did not not provide bank-wise details of the NPAs.
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