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Public sector banks witness brisk recovery of NPAs

Published: Feb 08, 2017

By TIOLCORP News Service

NEW DELHI , FEB 08, 2017: NON-PERFORMING Assets (NPAs) of Public Sector Banks (PSBs) as on September, 2016 stands at Rs.5,89,502 Crore (11.82%). During FY 2015 and FY 2016 PSBs made total NPA recoveries of Rs.42,542 Crore and Rs.39,986 Crore, respectively. Based on above data it is observed that PSBs recorded only a moderate decline of Rs. 2,556 Crore in NPA recoveries.

The Government has taken sector specific measures (Infrastructure, Power, Road, textiles, Steel etc.) where incidence of NPA is high. The Insolvency and Bankruptcy code (IBC) has been enacted and Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) and The Recovery of Debts due to Banks and Financial Institutions (RDDBFI) Act have been amended to improve resolution/recovery of bank loans. Six new Debt Recovery Tribunals (DRTs) have been established for improving recovery. RBI has provided a number of tools in this regard-  Corporate Debt Restructuring (CDR), Formation of Joint Lenders' Forum (JLF), Flexible Structuring for long term project loans to Infrastructure and Core industries (5/25 Scheme), Strategic Debt Restructuring Scheme (SDR) and Sustainable Structuring of Stressed Assets (S4A).

With the advent of Public Sector Asset Rehabilitation Agency or PARA as proposed in the Union Budget 2017-18 by the Finance Minister, it is expected that the rising graph of NPAs in PSBs will further come down.

 

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