NPAs of public sector banks over Rs 57,301 crore

Public sector banks in India had combined gross non-performing assets (NPAs) of Rs 57,301 crore during 2009-10, up 30 per cent from the previous fiscal, Parliament was informed on Tuesday. NPAs comprised 2.27 per cent of public sector banks’ (PSBs) gross advances in 2009-10, Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.

PSBs had NPAs worth Rs 44,039 crore in 2008-09 which was 2.09 per cent of their gross advances. In 2007-08, the total was Rs 39,749 crore or 2.34 per cent of gross advances.

“After the enactment of and Reconstruction of Financial Assets and Enforcement of Security Interest (FARFAESI) Act, 2002, the recovery of NPAs of PSBs has improved,” Meena said.

In another reply, the minister said special term loans worth Rs 9,913.59 crore were written off by the centre between 1984-85 to 1993-94.

“The last of the dues on account of these loans were written off in 2007-08. No conditions were imposed while waiving these loans,” Meena said.

On shifting the financial year to January-December, the minister said no such plan exists.

“There is no move to shift the financial year to January-December from the current April-March cycle,” Meena said, adding that there is also no proposal for the merger of the Railway Budget with the Union Budget