322% NPAs of govt-owned banks increased during Modi Govt tenure: RTI

322% NPAs of govt-owned banks increased during Modi Govt tenure: RTI
322% NPAs of govt-owned banks increased during Modi Govt tenure: RTI

322% NPAs of govt-owned banks increased during Modi Govt tenure: RTI

New Delhi
Non-performing assets have become a major challenge for government banks. Recently, after the disclosure of former RBI governor Raghuram Rajan’s disclosure on NPA, where both the BJP and the Congress are justifying the economic policies of their respective tenants. Recently, the information given under the Right to Information is telling the country that during the last four years, NPAs of government-owned banks have increased by 322.21 percent.

In the RTI, the Reserve Bank of India was asked that what is the status of NPAs of government banks from June 2014 to June 2018. Simultaneously, information was sought from the central bank that how many NPAs of government banks were on June 30, 2018 and how many NPAs have been recovered by the government banks till this date.
In response to the RTI, the Reserve Bank of India said that it has the data of NPA only till December 2017 and there is a need to wait for the subsequent data. So RBI has released the figure from June 2014 to December 2017 which the government bank has provided to it.

According to the RBI, the gross NPA of the government banks of the country till June 30, 2014 was Rs 2,24,542 crore. This NPA has increased to Rs 7,24,552 crore by December 31, 2017. So, in the last four years, NPAs of government banks have seen an increase of 322.21 per cent.

In response to an RTI query, the Reserve Bank said that from April 2014 to March 2018, the public sector banks have made a total recovery of Rs. 1,77,931 crore.

by-gns