Rs 10 lakh crore bank loan default
Posted on: 18/Apr/2016 10:58:25 AM
According to a report by industry body Assocham stressed assets of banks may touch Rs 10 lakh crore in the fourth quarter of 2015-16 amid a slowdown in sectors such as steel and an ongoing asset quality review by the Reserve Bank of India (RBI).
The slowdown in certain important sectors like steel, textiles and aluminium, and the ongoing Asset Quality Review (AQR) may push stressed assets of the banks to Rs 10 lakh crore mark in the fourth quarter of 2015-16.
While releasing the report here, an Assocham spokesman said that Gross NPAs of state-run banks increased from Rs 2,67,065 lakh crore in March 2015 to Rs 3,61,731 lakh crore in December 2015. In contrast, the private sector banks Gross NPAs rose to Rs 39,859 crore at the end of December from Rs 31,576 crore at the end of March 2015.
