NPA of all public sector banks decreased in last six months: Survey
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New Delhi, March 21 The non-performing assets (NPAs) of all public sector banks (PSBs) in India have declined in the last six months. FICCI-IBA Banker’s survey released on Thursday said that bad loans of 67 percent of private sector banks have decreased during this period. The NPA of 77 percent of the banks surveyed has declined in the last six months. The asset quality of public sector banks has improved more than that of private sector banks. The 18th round of industry body FICCI-IBA Bankers Survey was conducted in the period July to December, 2023.
A total of 23 banks including public sector, private sector and foreign banks participated in the survey. These banks, classified by asset size, together represent about 77 percent of the banking industry. More than half of the banks included in the FICCI-IBA Bankers Report believe that gross NPAs will remain in the range of 3-3.5 percent in the next six months. “All the responding PSBs have acknowledged a reduction in NPA levels, while 67 per cent of the participating private sector banks have seen a reduction in NPAs,” the survey said.
None of the PSBs and foreign banks have seen an increase in NPA levels in the last six months, while 22 per cent of private banks’ NPAs have increased. Among the sectors where NPA levels continue to be high, most of the banks have seen losses in food processing, textiles and Areas like infrastructure have been identified. The survey also shows that the outlook for non-food industry credit over the next six months is optimistic, with 41 percent of banks expecting non-food industry credit growth to remain above 12 percent, while 18 percent feel that non-food industry credit growth will remain above 12 percent. -Food industry credit growth will be more than 12 percent. The increase in credit to industries will be in the range of 10-12 percent. Moreover, 36 per cent of banks believe that non-food industry credit growth will be in the range of 8-10 per cent.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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