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Banks’ gross bad loans in December stood at Rs 8.41 lakh cr
New Delhi, March 9 (IANS) The gross non-performing assets (NPAs), or bad loans, in the Indian banking system amounted to Rs 8,40,958 crore in December, Parliament was told on Friday.
Minister of State for Finance Shiv Pratap Shukla told the Lok Sabha in a written reply that industry accounted for largest portion of these NPAs, followed by the services and agriculture sectors.
The gross NPAs of scheduled banks as on December 31, 2017 due to loans to industry were at Rs 6,09,222 crore, he said.
The services sector followed, with bad loans of Rs 1,10,520 crore, while NPAs in agriculture and allied activities came to Rs 69,600 crore. Retail loans gone bad amounted to Rs 36,630 crore.
State-run State Bank of India (SBI) accounted for the highest amount of gross NPAs at Rs 2,01,560 crore.
Among others, Punjab National Bank (PNB) was at Rs 55,200 crore, IDBI Bank – Rs 44,542 crore, Bank of India – Rs 43,474 crore, Bank of Baroda – Rs 41,649 crore, Union Bank of India – Rs 38,047 crore, Canara Bank – Rs 37,794 crore and private lender ICICI Bank at Rs 33,849 crore.
Among other public sector banks, Indian Overseas Bank bank had gross NPAs of Rs 31,724 crore, Central Bank of India – Rs 32,491 crore, UCO Bank – Rs 24,308 crore, Allahabad Bank – Rs 23,120 crore, Andhra Bank – Rs 21,599 crore and Corporation Bank – Rs 21,818 crore.
The Minister also said there are 8,457 cases pending in the National Company Law Tribunal and 264 in the National Company Law Appellate Tribunal as on December 31, 2017, through which banks are trying to recover their dues.
The government has embarked on a two-pronged strategy on bad loans.
On the one hand, it has brought in the Insolvency and Bankruptcy Code (IBC) which provides for a six-month time-bound insolvency resolution process. On the other hand, it has approved a Rs 2.11 lakh crore recapitalisation plan for state-run banks.
In June last year, the RBI referred 12 accounts, totalling about 25 per cent of the gross NPAs, for resolution under the IBC.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.