You are here: Home » Companies » News
Business Standard

PSBs reduce their NPAs by Rs 641.06 mn via actual recoveries in FY18: RTI

the reduction seems to be insignificant given the fact that gross NPAs of state-run banks at the end of FY18 stood at Rs 8.95 trillion

Press Trust of India  |  Indore 

Union Finance Minister Arun Jaitley is expected to address the two-day conclave at the State Bank of India (SBI) Academy in Gurugram
Representative Image

The public sector banks (PSBs) had reduced their non-performing assets (NPAs) by Rs 641.06 million in the last financial year through actual recoveries, revealed an RTI query.

However, the reduction seems to be insignificant given the fact that gross NPAs of state-run banks at the end of FY18 stood at Rs 8.95 trillion.

As per the (RBI) data received on August 24 in response to the RTI query filed by activist Chandrashekhar Gaud, the NPAs reduced by Rs 532.5 billion and Rs 409.03 billion, respectively, in FY17 and FY16 due to actual recoveries from defaulters.

The query also revealed that the gross NPA of PSBs was Rs 6.84 trillion at the end of FY17, and Rs 5.39 billion at the end of FY16.

There are 21 public sector banks in the country. However, the did not not provide bank-wise details of the NPAs.

First Published: Wed, August 29 2018. 16:54 IST
RECOMMENDED FOR YOU