• ABOUT US
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS
Wednesday, October 1, 2025
  • Login
Economy India
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
No Result
View All Result
Economy India
No Result
View All Result
Home Economy

Gross non-performing assets (NPAs) improves from 11.33% in FY2017-18

by Economy India
March 28, 2022
Reading Time: 2 mins read
FEATURED IMAGE ECONOMY INDIA 1 1
SHARESHARESHARESHARE

As per Reserve Bank of India (RBI) data, recovery made by public sector banks (PSBs) during the financial year as a percentage of gross non-performing assets (NPAs) as on beginning of the financial year (FY) has improved from 11.33% in FY2017-18, to 13.52% in FY2018-19, to 14.69% in FY2019-20. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha today.

In FY2020-21, the Minister stated, despite widespread impact of the COVID-19 pandemic on the economy and its cascading effect on the actions in respect of recovery measures, the recovery during the financial year as a percentage of gross NPA as on beginning of the financial year was still at 12.28%.

ADVERTISEMENT

Money Laundering Act

On the steps taken by the Government for loan recovery from the wilful defaulters, the Minister stated that as per the inputs received from the Enforcement Directorate, it has attached assets worth Rs. 19,111 crore, up to 23.3.2022.

Under the provisions of Prevention of Money Laundering Act, 2002 in certain cases of loan fugitives, which is 84.61% of the defrauded amount of Rs. 22,586 crore in these cases. Further, out of these attached assets, assets worth Rs. 15,113 crore, which is 66.91% of the defrauded amount, has been restituted to PSBs.

RBI Master Circular

Giving more information with regard to loan recovery from the wilful defaulters, the Minister stated that as per RBI’s Master Circular on Wilful Defaulters, dated 1.7.2015, banks are required to take steps to initiate the legal process, wherever warranted, against the borrowers/ guarantors for recovery of dues. Further, they may also initiate criminal proceedings against wilful defaulters, wherever necessary.

National Company Law

In line with these instructions, banks initiate recovery process under various recovery mechanisms, such as filing of a suit in civil courts or in the Debts Recovery Tribunals, action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, filing of cases in the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016, and through sale of NPAs.

Moreover, the Minister stated, to deter wilful defaulters, as per RBI’s instructions, wilful defaulters are not sanctioned any additional facilities by banks, non-banking financial companies (NBFCs) or financial institutions, and their unit is debarred from floating new ventures for five years.

Further, vide Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2016, wilful defaulters and companies with wilful defaulters as promoters/ directors have been debarred from accessing capital markets to raise funds. In addition, the Insolvency and Bankruptcy Code, 2016 has debarred wilful defaulters from participating in the insolvency resolution process. (PIB)

Tags: Economy IndiaPublic Sector BanksReserve Bank of India (RBI)
Economy India

Economy India

Economy India is one of the largest media on the Indian economy. It provides updates on economy, business and corporates and allied affairs of the Indian economy. It features news, views, interviews, articles on various subject matters related to the economy and business world.

Related Posts

India Extends Export Duty and Tax Refund Scheme (RoDTEP) Until March 2026: A Comprehensive Analysis
Economy

India Extends Export Duty and Tax Refund Scheme (RoDTEP) Until March 2026: A Comprehensive Analysis

September 30, 2025
Trump Slaps 100% Tariff on Branded Drugs from October 1; India, Key Exporter, Faces Uncertainty
Economy

Trump Slaps 100% Tariff on Branded Drugs from October 1; India, Key Exporter, Faces Uncertainty

September 26, 2025
GST 2.0: FMCG Firms Expect Full Price Alignment Within Two Months
Economy

GST 2.0: FMCG Firms Expect Full Price Alignment Within Two Months

September 24, 2025
India Reaffirms WTO-Centric Fair Trade System at SCO Ministers’ Meet, Showcases Digital Public Infrastructure
Economy

India Reaffirms WTO-Centric Fair Trade System at SCO Ministers’ Meet, Showcases Digital Public Infrastructure

September 8, 2025
For now, India remains resolute. As Puri concluded: “Our duty is to the Indian consumer. We will continue to act responsibly, but always in India’s interest.”
Economy

India Hits Back at U.S. on Russian Oil: “Followed Global Rules, Stabilized Market”

September 7, 2025
Designed in India, Made in India, Trusted by World: PM Modi at Semicon India 2025
Economy

Designed in India, Made in India, Trusted by World: PM Modi at Semicon India 2025

September 2, 2025
Next Post
FEATURED IMAGE ECONOMY INDIA 1 1

US Proposes Hike In Assistance To India In Clean Energy, Digital Economy

I AM PEACEKEEPER I AM PEACEKEEPER I AM PEACEKEEPER
ADVERTISEMENT

LATEST NEWS

Kotak Mahindra Bank Named Best Private Sector Bank at Financial Express Best Banks Awards 2023–24

India Extends Export Duty and Tax Refund Scheme (RoDTEP) Until March 2026: A Comprehensive Analysis

Govt. Announces Diwali Bonus for Central Employees: ₹6,908 Payout, Railway Staff to Receive 78 Days PLB

Indian Economy to Grow at 6.5% in FY 2025-26 Despite Strong Q1 Performance: ADB

Sahara Seeks Supreme Court Nod to Sell 88 Properties to Adani Group; Proceeds to Repay ₹24,030 Crore Investor Dues

Crude Oil Futures Jump ₹25 on Strong Overseas Demand, MCX Sees Active Trading

Tax Audit Report Submission Deadline Extended to October 31 for FY 2024-25; ITR Filing Deadline Remains Unchanged

Reliance Consumer Products Signs ₹40,000 Crore MoU with Government to Build Integrated Food Manufacturing Facilities Across India

  • ABOUT US
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS

Copyright © 2024 - Economy India | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories

Copyright © 2024 - Economy India | All Rights Reserved