NPAS OF PUBLIC SECTOR BANKS OVER RS 57K CR: MOS FOR FINANCE

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.

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.

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.

"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.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/NPAs-of-public-sector-banks-over-Rs-57K-cr-MoS-for-Finance/articleshow/6935630.cms