Rising NPAs: A Closer Look at Public Sector Banks in India

Public sector banks in India reported gross non-performing assets (NPAs) of Rs 3.16 lakh crore as of September 30, constituting 3.09% of the outstanding loans. A total of 580 unique borrowers were identified as wilful defaulters. The resolution through insolvency processes recovered Rs 3.55 lakh crore for creditors.

India's public sector banks reported alarming levels of gross non-performing assets (NPAs), reaching Rs 3.16 lakh crore as of September 30. This accounts for 3.09% of their outstanding loans, according to new figures released in Parliament.

The Minister of State for Finance, Pankaj Chaudhary, informed the Rajya Sabha that the Reserve Bank of India's provisional data places NPAs at Rs 3,16,331 crore for public banks and Rs 1,34,339 crore for private banks.

He also highlighted that 580 unique borrowers have been termed wilful defaulters. Using the Insolvency and Bankruptcy Code, creditors have managed to recover Rs 3.55 lakh crore, despite the massive Rs 11.45 lakh crore aggregate claim.

(With inputs from agencies.)