 "McKinsey pegs provisioning need of banks at Rs 6 lakh cr")
McKinsey & Co said on Wednesday the current provisions of Indian banks were inadequate and there was a gap of at least Rs 6 lakh crore that should be filled to provide for stressed assets.
The consulting agency released a blueprint for Indian banks for the next five years, in which it said stressed assets have already grown past the net worth of the banks.
According to the agency, gross non-performing assets and restructured assets amounted to Rs 9.88 lakh crore by FY16, growing 25 per cent year-on-year from 2013. If bad debts continued to pile up, the
The consulting agency released a blueprint for Indian banks for the next five years, in which it said stressed assets have already grown past the net worth of the banks.
According to the agency, gross non-performing assets and restructured assets amounted to Rs 9.88 lakh crore by FY16, growing 25 per cent year-on-year from 2013. If bad debts continued to pile up, the
