701 bad loan accounts owe PSU banks Rs 1.63 lakh cr
PrintListen to this Article
As many as 701 accounts with bad loans exceeding Rs 100 crore owed public sector banks (PSBs) Rs 1.63 lakh crore at the end of December, with State Bank of India accounting for the biggest chunk.
SBI had 85 such accounts with aggregate non-performing assets (NPAs) of Rs 23,726 crore, followed by Bank of India with 93 accounts with cumulative NPAs of Rs 21,398 crore.
Bank of Baroda had 59 accounts with NPAs of Rs 13,657 crore, Minister of State for Finance Jayant Sinha said in a written reply to Rajya Sabha.
In all, 701 accounts owed Rs 1,63,920 crore to 26 PSBs.
In another reply, Sinha said six banks including private and foreign have a total of 9 accounts having NPAs of Rs 1,000 crore with outstanding loan of Rs 19,678 crore.
Private sector ICICI Bank has only two such accounts with outstanding loan of Rs 5,207 crore, while foreign lender Standard Chartered Bank has one account with NPAs of Rs 1,449 crore.
Among PSBs, SBI and IDBI Bank have two such accounts with loan outstanding of Rs 7,510 crore and Rs 2,802 crore.
Bank of Baroda and Union Bank of India have one such account with NPA of Rs 1,647 crore and Rs 1,062 crore, respectively.
He further said gross NPAs of PSBs rose to Rs 3.61 lakh crore at the end of December 2015, while that of private lenders was at Rs 39,859 crore.
The main reasons for increase in NPAs of banks are sluggishness in the domestic growth in the recent past, slow recovery in the global economy and continuing uncertainty in the global markets leading to lower exports of various products such as textiles, leather, Sinha said.
While, external factors include ban in mining projects, delay in clearances affecting power, he said.
Besides, volatility in prices of raw material and shortage in availability of power have impacted the operation of textiles, iron and steel and aggressive lending by banks in past have led to rise in NPAs, he added. #casansaar (PTI - India today)
Category : Banking | Comments : 0 | Hits : 626
The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002, has imposed a monetary penalty of Rs. 5,49,00,000 (rupees five crore forty nine lakh) on Paytm Payments Bank Ltd with reference to the violations of its obligations under the PMLA read with the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 (PML Rules) issued thereunder and applicable ...
The government on Monday informed the Lok Sabha that all Scheduled Commercial Banks have written off nearly Rs 10.6 lakh crore in the last 5 years, out of which nearly 50 per cent belong to large industrial houses. It also said that nearly 2300 borrowers, each having a loan amount of Rs 5 crore or more, wilfully defaulted around Rs 2 lakh crore. As per the Reserve Bank of India (RBI) guidelines and policy approved by bank boards, NPAs, including those in respect of which full provisioning has...
The government has cleared the extension of tenure of managing directors of two public sector lenders -- Bank of Maharashtra (BoM) and Central Bank of India. According to sources, Appointments Committee of the Cabinet (ACC) has approved extension of term of office of A S Rajeev, MD and CEO of BoM, for six months till his superannuation. Besides, sources said, ACC has extended the term of M V Rao, MD and CEO of Central Bank of India, till July 31, 2025.
The Central Bureau of Investigation (CBI) has started probe into the multi-crore banking fraud in which a former Punjab National Bank (PNB) employee, M.P. Rijil, allegedly swindled ?21 crore from multiple bank accounts, including the eight accounts maintained by the Kozhikode Corporation. The case is being investigated by the Kochi unit of the CBI in compliance with an earlier order issued by the Kerala High Court. The case, which was initially investigated by the Kozhikode Town poli...
The Enforcement Directorate (ED) on Saturday arrested two promoters of a Chandigarh-based pharma company, who are also the co-founders of the Sonepat-based Ashoka University, and a chartered accountant in a money-laundering probe linked to an alleged bank fraud. Official sources said the central agency also continued with its searches against the group for the second day, including at the Ashoka University's corporate and registered offices in Delhi and campus in Sonepat. Parabolic Dru...
Comments