Gross NPAs of public sector banks at Rs 3.16 lakh crore, over 3% of outstanding loans

As of September 30, the gross non-performing assets (NPAs) of public sector banks (PSBs) amounted to Rs 3.16 lakh crore, representing 3.09 percent of their outstanding loans, as reported in Parliament on Tuesday. Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha that, according to provisional data from the Reserve Bank of India (RBI), the gross NPAs for PSBs and private sector banks on September 30, 2024, were Rs 3,16,331 crore and Rs 1,34,339 crore, respectively.

Additionally, the percentage of gross NPAs relative to outstanding loans was 3.09 percent for public sector banks and 1.86 percent for private sector banks. Chaudhary also noted that as of March 31, 2024, 580 unique borrowers, excluding individuals and overseas borrowers—had loan amounts exceeding Rs 50 crore and were classified as wilful defaulters by Scheduled Commercial Banks.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : THDCIL Women Team Brings Gold and Silver Medals

To a query on the number of cases resolved and amount of haircuts by banks through the operation of the Insolvency and Bankruptcy Code, Chaudhary said as per data, up to September 30, 2024, resolution plans have been approved in 1,068 corporate insolvency resolution processes. These resolutions led to a recovery of Rs 3.55 lakh crore to the creditors, including banks.

Further, in these cases, an aggregate claim of creditors, including banks was Rs 11.45 lakh crore, whereas the aggregate liquidation value was Rs 2.21 lakh crore.

Read Also : NTPC Talcher Kaniha Concludes 19th Rural Sports Meet (Athletics)