PSB NPA stands at Rs 7.27 lakh crore
NEW DELHI: The government said on Monday that the non-profitable assets (NPA) of public sector banks () were at Rs 7.27 lakh crore as of September 30, 2019.
The Minister of State for Finance of the Union, Anurag Thakur, also said in Lok Sabha that scheduled commercial banks and selected financial institutions have reported fraud totaling Rs 1,13,374 rupees in the first half of the current financial year .
Thakur said during question time that, as a result of the transparent recognition of stressed assets such as NPA, PSB's gross NPAs, according to RBI data on global operations, increased from Rs 2.79,016 crore to March 31 from 2015 to Rs 6,84,732 rupees at March 31, 2017 and 8.95,601 million rupees at March 31, 2018.
As a result of the government's recognition, resolution, recapitalization and reform strategy, it has since declined by Rs 1.68,305 million to Rs 7.27,296 million as of September 30, 2019, he said.
The minister said that the systematic and exhaustive verification, including the inherited stock of PSB NPA, for fraud in the framework has been taken into account by the Reserve Bank of India (RBI) in its Financial Stability Report of December 2019, where it noted that this has helped to discover the frauds perpetrated over several years.
This is reflected in the greater amount involved in Rs fraud. 1 lakh and above, reported by the Programmed Commercial Banks and selected financial institutions, from Rs 23,934 million rupees in the 2016-2016 fiscal year to Rs 41,167 rupees in the 2017-18 fiscal year, Rs 71,543 rupees in the Fiscal year 2018-19 and Rs 1, Rs 13,374 million in the first half of the current financial year, he said.