PSU Banks recover Rs 2.33 lakh cr worth of bad loans during 4 years
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In a written reply to the Lok Sabha yesterday, Mr Shukla informed that as per RBI data on global operations for PSBs, during the financial years 2014-15 to 2017-18, PSBs recovered 2,33,339 crore rupees, of which 32,693 crores were from written-off accounts.
He said, write-offs of non-performing assets is a regular exercise of the banks to clean up their balance sheet, tax benefit and capital optimisation.
During 2014-15 to 2017-18, the PSBs witnessed reduction in their NPAs due to write-offs to the tune of 3,16,515 crore rupees. The Minister also said that aggressive lending practices, wilful default/loan defaults as well as corruption in some cases and economic slowdown were the primary reasons for spurt in stressed assets.
Country's largest lender SBI, stood on a gross bad loans of 2.02 lakh crore rupees as on September 30, 2018, showed the data furnished by the Minister which was sourced from the Reserve Bank.
Among the rest of the 20 PSBs, Punjab National Bank had grossed NPAs to the tune of 80,993 crore rupees by end of second quarter of the current fiscal, IDBI Bank 50,690 crore rupees, Bank of India 50,338 crore rupees, Union Bank of India 48,575 crores.
Bank of Baroda also had NPAs to the tune of 46,454 crores, Canara Bank 41,907 crores, Central Bank of India 37,411 crores, Indian Overseas Bank 35,607 crores and UCO Bank 28,822 crores.
In reply to a query on gross advances done, Mr Shukla said aggregate gross advances of PSBs increased from 16.98 lakh crores as at end-March 2008 to 45.91 lakh crores by the end of March 2014. #casansaar (Source - NewsOnAir)
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