NPAs of PSBs stands at Rs 7.27 lakh cr

The government said the Non Performing Assets (NPAs) of Public Sector Banks (PSBs) stood at Rs 7.27 lakh crore as on September 30, 2019.

Union Minister of State for Finance, Anurag Thakur said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of Rs 1,13,374 crore in the first half of the current financial year.

Thakur said that as a result of transparent recognition of stressed assets as NPAs, gross NPAs of PSBs, as per RBI data on global operations, rose from Rs 2,79,016 crore as on March 31, 2015, to Rs 6,84,732 crore as on March 31, 2017 and Rs 8,95,601 crore as on March 31, 2018.

"As a result of Government's strategy of recognition, resolution, recapitalisation and reforms, have since declined by Rs 1,68,305 crore to Rs 7,27,296 crore as on September 30, 2019," he said.