Non-performing assets (NPA) in the Indian banking sector have never assumed such alarming proportions as they are doing at present.
Several banks have gross NPA ratios running into double digits — a big worry. The State Bank of India has decided to create a special division headed by a person of the rank of managing director to exclusively deal with stressed loans.
The government and the Reserve Bank of India are seized of the matter, but more focused efforts are necessary to resolve this issue within a time frame.
Srinivasan Umashankar Nagpur
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201 · E-mail: email@example.com
All letters must have a postal address and telephone number