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NPAs of PSU banks shoot up during FY 2008-09

NPAs of PSU banks shoot up during FY 2008-09
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7/23/2009 2:24:13 PM
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NPAs of PSU banks shoot up during FY 2008-09

 

 

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Delhi , July 21,2009 16:14 IST

The amount of Gross non-performing assets (NPAs) of Public Sector Banks (PSBs) have slightly increased from Rs.39,749 crore as on 31st March, 2008 to Rs. 43,676 crore as on 31st March, 2009. In a written reply submitted by Union Minister of State for Finance, Shri Namo Narain Meena in Rajya Sabha today, the government said it was trying to ensure that the targets of Gross NPAs, set by the PSBs in their ‘Statement of Intent on Annual Goals’ for 2009-10, are such that they strive to contain the level of their Gross NPAs within acceptable limits.
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The written reply however said that the Gross NPAs to Gross Advances ratio and Net NPAs to Net Advances ratio of these banks have declined from 2.3% to 2.08% and 1.08% to 0.99%, respectively, between March, 2008 and March, 2009.

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