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In India NPA is viewed as criminal: Bhattacharya

Press Trust of India  |  Kolkata 

With the Indian industry bearing the brunt of huge NPAs waiting for resolution, of (SBI) chairman Arundhati Bhattacharya today said that NPA is treated as criminal in the country.

"In NPA is treated as criminal, which it should not be. There is no permission for failures. Permission to fail is not given by the society. But failures will take place", she said at a session here.

The chief of SBI, which was in the process of making NPA resolutions of large corporate accounts, said that when loans were given when the growth was 8.5 per cent it was not expected that the accounts would not turn bad.

"But the growth had fallen to four per cent which resulted in piling up of huge NPAs in the sector", Bhattacharya viewed.

Bhattacharya said these accounts were five per cent of the whole lot.

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

First Published: Tue, July 11 2017. 18:29 IST