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Banks' gross bad loans in December stood at Rs 8.41 lakh cr

IANS  |  New Delhi 

The gross non-performing assets (NPAs), or bad loans, in the Indian banking system amounted to Rs 8,40,958 crore in December, Parliament was told on Friday.

of State for told the Lok Sabha in a written reply that industry accounted for largest portion of these NPAs, followed by the services and agriculture sectors.

The gross of scheduled banks as on December 31, 2017 due to loans to industry were at Rs 6,09,222 crore, he said.

The services sector followed, with bad loans of Rs 1,10,520 crore, while in agriculture and allied activities came to Rs 69,600 crore. gone bad amounted to Rs 36,630 crore.

of India (SBI) accounted for the highest amount of gross at Rs 2,01,560 crore.

Among others, (PNB) was at Rs 55,200 crore, IDBI - Rs 44,542 crore, - Rs 43,474 crore, - Rs 41,649 crore, Union Bank of India - Rs 38,047 crore, - Rs 37,794 crore and at Rs 33,849 crore.

Among other public sector banks, bank had gross NPAs of Rs 31,724 crore, - Rs 32,491 crore, - Rs 24,308 crore, - Rs 23,120 crore, - Rs 21,599 crore and - Rs 21,818 crore.

The also said there are 8,457 cases pending in the and 264 in the as on December 31, 2017, through which banks are trying to recover their dues.

The government has embarked on a two-pronged strategy on bad loans.

On the one hand, it has brought in the Insolvency and Bankruptcy Code (IBC) which provides for a six-month time-bound insolvency resolution process. On the other hand, it has approved a Rs 2.11 lakh crore recapitalisation plan for state-run banks.

In June last year, the RBI referred 12 accounts, totalling about 25 per cent of the gross NPAs, for resolution under the IBC.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 21:46 IST
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