Banks’ NPA steadily rising for past 8 years: Finance ministry
The gross NPAs of public sector banks on 31 December, 2017 were Rs 7.77 trillion, minister of state for finance Shiv Pratap Shukla informed the Lok Sabha citing RBI data
New Delhi: The finance ministry on Friday informed the Lok Sabha that bad loans in the banking sector have been rising steadily for the past eight years and in case of state-run banks it crossed Rs7.77 trillion at December-end 2017.
In different written replies in the house, minister of state for finance Shiv Pratap Shukla said gross non-performing assets (NPAs) under the ‘industry-large’ category for all banks soared to Rs5.27 trillion as on December 2017 from Rs1.23 trillion on 31 March, 2015.
Citing RBI data, the minister said the gross NPAs of public sector banks on 31 December, 2017 were Rs7.77 trillion.
“As per the RBI data, gross NPAs of scheduled commercial banks have been rising steadily since the last eight financial years,” Shukla said.
In another reply, the minister said that corporate lending by banks have increased from Rs31.12 trillion in March 2013 to Rs40.66 trillion at December-end 2017.
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