NPA of government banks reduced
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Banks NPA Survey: In Europe, countries like New Zealand are facing recession. On the other hand, the Indian economy is progressing rapidly. Meanwhile, another good news has emerged regarding our economy. Based on the performance reports of the last six months, FICCI-IBA has released a bankers survey. According to this, a better decline has been recorded in the non-performing assets (NPAs) of the country’s public sector banks. During this period, bad loans of 67 percent private sector banks have reduced. The situation revealed in the report shows the strength of the banking sector. It has been told in the survey that out of the banks that participated in the survey, 77 percent have shown reduced NPA level. The survey conducted on the basis of similar criteria has revealed that the performance of government banks has been better as compared to private banks.
23 banks took part in the survey
The 18th round of industry body FICCI-IBA Bankers Survey was conducted in the period from 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 NPA will remain in the range of 3-3.5 percent in the next six months. The survey said that all the responding PSBs have admitted reduction in NPA levels, while 67 per cent of the participating private sector banks have seen a reduction in NPAs. None of the PSBs and foreign banks have seen an increase in NPA levels in the last six months, while 22 percent of private banks have seen their NPAs increase. Among the sectors where NPAs continue to remain high, most banks have identified sectors like food processing, textiles and infrastructure.
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What is the status of the loan?
The FICCI-IBA Bankers Survey also revealed that the outlook for non-food industry credit over the next six months is optimistic, with 41 per cent banks expecting non-food industry credit growth to be above 12 per cent, while 18 per cent Non-food industry credit growth seems likely to exceed 12 percent. The increase in loans 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.
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