Gross NPAs on a decline for first time in seven years: RBI report
The efforts of the Narendra Modi government to clean up country’s banking system from the Non-Performing Assets mess seems to be yielding results as the gross non-performing loans of banks improved to 9.1% as of end-September 2019, compared to 11.2% in the fiscal year 2018. Reportedly, the non-performing assets reported by banks have shown a decline for the first time in last seven years because of the conducive policy environment and reforms like Insolvency and Bankruptcy Code, the Reserve Bank of India said in its report. “The gross NPA ratio of all banks declined in FY19 after rising for seven consecutive years, as recognition of bad loans neared completion,” the RBI said in its report on Trend and Progress of Banking 2018-19. The report noted that the gross NPAs has declined to 9.1% in March 2019 from 11.2% in March 2018 as recognition of bad loans neared completion. The restructured standard advances to gross advances ratio began declining after the asset quality review in 2015 and reached 0.55% at end-March 2019,” the report said.
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