Write-offs cut PSBs' bad loans in FY18

India Business Journal - - NEWS ROUND-UP -

Public sec­tor banks' (PSB) non-per­form­ing as­sets (NPAs) de­clined by Rs 1,28,229 crore in FY18 due to write-offs, in­clud­ing com­pro­mise set­tle­ment. This is about 60 per cent higher than the write-offs in the year-ago pe­riod. Ac­cord­ing to a writ­ten re­ply by Min­is­ter of State for Fi­nance Shiv Pratap Shukla to a ques­tion in the Ra­jya Sabha, as­set qual­ity re­view car­ried out in 2015 for clean and fully-pro­vi­sioned bank bal­ance sheets re­veal a high in­ci­dence of NPAs. Ex­pected losses on stressed loans, not pro­vided for ear­lier un­der flex­i­bil­ity given to re­struc­tured loans, have also been re­clas­si­fied as NPAs and pro­vided for.

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