New Delhi: The government has taken comprehensive steps to reduce NPAs and effect recovery, enabling public sector banks to recover over Rs 5.49 lakh crore in the last seven financial years. Lok Sabha Was notified on Monday.
In a written reply, Minister of State for Finance Bhagwat Karad said that with regard to the details of recovery rate of Non-Performing Assets (NPA), reserve Bank of India Ltd. has informed that it has not formally defined ‘Recovery Rate’ in the context of NPAs in the banking industry.
“Extensive steps have been taken by the government to reduce NPAs and effect recovery, enabling PSBs to recover Rs 5,49,327 crore in the last seven financial years,” he said.
However, as per RBI data, the recovery made by public sector banks (PSBs) as a percentage of gross during the financial year NPA At the beginning of the financial year (FY) it has increased from 11.33 percent in 2017-18 to 13.52 percent in 2018-19 and 14.69 percent in 2019-20.
“In the financial year 2020-21, despite the massive impact of COVID-19” global pandemic Its cascading impact on the economy and actions with regard to recovery measures, the recovery during the financial year as a percentage of gross NPAs at the beginning of the financial year was still at 12.28 per cent.”
The minister also informed that the gross NPAs of PSBs increased from Rs 2,79,016 crore (gross NPA ratio of 4.97 per cent) to Rs 8,95,601 crore as on March 31, 2015, mainly as a result of transparent recognition of stressed assets. Gross NPA Ratio 14.58 per cent as on March 31, 2018.
He further said that as a result of the government’s strategy of recognition, resolution, recapitalization and reforms, the NPAs have come down to Rs 6,16,616 crore (gross NPA ratio of 9.11 per cent) as on March 31, 2021.
, for a question related to Pan CardMinister of State for Finance Pankaj Choudhary said that in some cases more than one PAN has been allotted to individuals.
However, as per the records all the duplicate PAN cards have been de-duplicated, he said.
The number of de-duplicated PANs is 12,12,527, he said, and does not include those PANs that have been reactivated over a period of time.
In a written reply, Minister of State for Finance Bhagwat Karad said that with regard to the details of recovery rate of Non-Performing Assets (NPA), reserve Bank of India Ltd. has informed that it has not formally defined ‘Recovery Rate’ in the context of NPAs in the banking industry.
“Extensive steps have been taken by the government to reduce NPAs and effect recovery, enabling PSBs to recover Rs 5,49,327 crore in the last seven financial years,” he said.
However, as per RBI data, the recovery made by public sector banks (PSBs) as a percentage of gross during the financial year NPA At the beginning of the financial year (FY) it has increased from 11.33 percent in 2017-18 to 13.52 percent in 2018-19 and 14.69 percent in 2019-20.
“In the financial year 2020-21, despite the massive impact of COVID-19” global pandemic Its cascading impact on the economy and actions with regard to recovery measures, the recovery during the financial year as a percentage of gross NPAs at the beginning of the financial year was still at 12.28 per cent.”
The minister also informed that the gross NPAs of PSBs increased from Rs 2,79,016 crore (gross NPA ratio of 4.97 per cent) to Rs 8,95,601 crore as on March 31, 2015, mainly as a result of transparent recognition of stressed assets. Gross NPA Ratio 14.58 per cent as on March 31, 2018.
He further said that as a result of the government’s strategy of recognition, resolution, recapitalization and reforms, the NPAs have come down to Rs 6,16,616 crore (gross NPA ratio of 9.11 per cent) as on March 31, 2021.
, for a question related to Pan CardMinister of State for Finance Pankaj Choudhary said that in some cases more than one PAN has been allotted to individuals.
However, as per the records all the duplicate PAN cards have been de-duplicated, he said.
The number of de-duplicated PANs is 12,12,527, he said, and does not include those PANs that have been reactivated over a period of time.
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