Par panel on finance adjourns meeting to discuss NPAs

The meeting of the Parliamentary Standing Committee on Finance to deliberate on worsening bad loans situation did not take place today as the panel fell short of quorum.
Though the committee Chairman Yashwant Sinha and some other members came to attend the weekly meeting, it had to be adjourned for not having quorum, a member said.
He said the next meeting would be held coming Tuesday during which Reserve Bank of India Governor Raghuram Rajan will give his inputs on the bad loan situation of public sector banks.
Non-performing assets (NPAs) or bad loans of public sector banks rose by 28.5 per cent from Rs 1.83 lakh crore in March, 2013 to Rs 2.36 lakh crore in September last year, as per the information provided by the Finance Ministry to Parliament.

Total NPAs had gone up to Rs 1.37 lakh crore in March, 2012 from Rs 94,121 crore in March, 2011. Thus the amount of NPA in September 2013 was more than double of what it was in March 2011.
"The ratio of top 30 NPAs as a percentage of gross NPAs, in respect of public sector banks, as on September, 2013 is 35.5 per cent and for all banks it is 38.8 per cent," Finance Minister P Chidambaram had said in a reply to the Rajya Sabha.
The Gross NPA amount of top 30 accounts of public sector banks (PSBs) stood at Rs 72,174 crore, while for all banks it was Rs 91,667 crore at the end of September last year

In case of nationalised banks, top 30 defaulters contributed 43.8 per cent to the GNPA with Rs 55,663 crore.