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State-run banks’ bad loans rose 9.9% in FY09

State-run banks’ bad loans rose 9.9% in FY09
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First Published: Tue, Jul 21 2009. 11 18 PM IST
Updated: Tue, Jul 21 2009. 11 18 PM IST
Mumbai: State-run banks reported a 9.9% rise in bad loans for the year ended 31 March. Gross bad debt rose to Rs43,680 crore, from Rs39,750 crore a year earlier, minister of state for finance Namo Narain Meena said in a written response to a question in Parliament on Tuesday. Gross bad loans as a percentage of total loans shrank to 2.08%, from 2.3% a year earlier, he said. The government is trying to ensure that the banks strive to contain the level of bad loans, he said.
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First Published: Tue, Jul 21 2009. 11 18 PM IST